Manchester school of economics: Difference between revisions
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'''The Manchester school of economics''' (sometimes referred to simply as "the Manchester school") was a political movement that sought the implemention of the recommendations of the [[History of economic thought#Classical economics|classical economists]], [[Adam Smith]] and [[David Ricardo]], and that pioneered Britain's abandonment of the then traditional doctrine of [[mercantilism]]. The movement was led by British businessmen and Members of Parliament, Richard Cobden<ref>[http://www.spartacus.schoolnet.co.uk/PRcobden.htm ''Biography of Richard Cobden'', Spartacus School]</ref> and John Bright<ref>[http://www.spartacus.schoolnet.co.uk/PRbright.htm ''Biography of John Bright'', Spartacus School]</ref> | '''The Manchester school of economics''' (sometimes referred to simply as "the Manchester school") was a political movement that sought the implemention of the recommendations of the [[History of economic thought#Classical economics|classical economists]], [[Adam Smith]] and [[David Ricardo]], and that pioneered Britain's abandonment of the then traditional doctrine of [[mercantilism]]. The movement was led by British businessmen and Members of Parliament, Richard Cobden<ref>[http://www.spartacus.schoolnet.co.uk/PRcobden.htm ''Biography of Richard Cobden'', Spartacus School]</ref> and John Bright<ref>[http://www.spartacus.schoolnet.co.uk/PRbright.htm ''Biography of John Bright'', Spartacus School]</ref>. David Ricardo's law of [[comparative advantage]] had demonstrated that a country's removal of its barriers to trade would increase its prosperity, and Cobbett and Bright had used that finding to campaign for the abolition of the system of [[tariff]]s upon grain imports known as the "corn laws". They founded the influential Anti-Corn Law League. | ||
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Revision as of 07:37, 11 March 2011
The Manchester school of economics (sometimes referred to simply as "the Manchester school") was a political movement that sought the implemention of the recommendations of the classical economists, Adam Smith and David Ricardo, and that pioneered Britain's abandonment of the then traditional doctrine of mercantilism. The movement was led by British businessmen and Members of Parliament, Richard Cobden[1] and John Bright[2]. David Ricardo's law of comparative advantage had demonstrated that a country's removal of its barriers to trade would increase its prosperity, and Cobbett and Bright had used that finding to campaign for the abolition of the system of tariffs upon grain imports known as the "corn laws". They founded the influential Anti-Corn Law League.