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How Britain Turned to Free Trade

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  • Grampp, William D.

Abstract

British free trade has been variously attributed to the importuning of business interests, to the advanced state of manufacturing, to politicians acting on improper or unworthy motives, or to imperialism. Professor Grampp examines a critical event in the history of free trade: Parliament's declaration in 1820 that future commercial policy should be guided by that principle. By 1850, all major restrictions had been abolished. The decision of 1820, according to Thomas Tooke, a principal in the event, was made by the Tory Government with the concurrence of the Whig Opposition, both of which had come to believe free trade would increase per capita real income: that is, both acted in what they and others since have understood to be the public interest.

Suggested Citation

  • Grampp, William D., 1987. "How Britain Turned to Free Trade," Business History Review, Cambridge University Press, vol. 61(1), pages 86-112, April.
    • Handle: RePEc:cup:buhirw:v:61:y:1987:i:01:p:86-112_05
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    Cited by:

    1. Joel Mokyr, 2010. "Institutions and the Beginnings of Economic Growth in Eighteenth-Century Britain," Chapters, in: Neri Salvadori (ed.), Institutional and Social Dynamics of Growth and Distribution, chapter 1, Edward Elgar Publishing.
    2. Bonfatti, Roberto, 2017. "The sustainability of empire in a global perspective: The role of international trade patterns," Journal of International Economics, Elsevier, vol. 108(C), pages 137-156.
    3. Walker, Stephen P., 1995. "The genesis of professional organization in scotland: a contextual analysis," Accounting, Organizations and Society, Elsevier, vol. 20(4), pages 285-310, May.

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