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Edward Stillingfleet Cayley (1802–1862)

In: Economic Exiles

Author

Listed:
  • J. E. King

    (University of Lancaster)

Abstract

Free trade was probably the least contentious of all the major theoretical issues of economic policy in early nineteenth-century Britain. Of reputable economists only Malthus defended the Corn Laws, and with scant success. The virtual unanimity of the classical economists on this question has led historians almost to ignore the theoretical (as opposed to the political) case for protection.1 One undeserved victim of this neglect has been E. S. Cayley, one of the most distinguished of that small minority who used serious economic arguments to defend import controls, not merely in the interests of the landed classes but also because of their contribution to the general welfare. Cayley was the author of one full-sized book, On Commercial Economy (1830), and of several pamphlets. He sat in Parliament for thirty years, frequently contributing to debates on economic and financial matters. His case for protection combined an analysis of capital accumulation and the impact of machinery with unorthodox monetary views and a thoroughgoing opposition to Say’s Law.2

Suggested Citation

  • J. E. King, 1988. "Edward Stillingfleet Cayley (1802–1862)," Palgrave Macmillan Books, in: Economic Exiles, chapter 3, pages 44-62, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-07743-4_3
    DOI: 10.1007/978-1-349-07743-4_3
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