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Saturday, 2006 June 3, 09:10 — economics, history

scapegoats

Mom is in town, and yesterday we went to the Arts & Crafts exhibit at the de Young.

One of the wall placards says, “The problems caused by free trade and the Industrial Revolution had been recognized since the 1830s . . . .”

The part about free trade is easy to debunk: the first triumph of the British free trade movement was the repeal in 1846 (motivated in part by the Irish famine) of the protectionist Corn Laws.

The plight of the working classes before that is familiar from Oliver Twist (1837–9) and A Christmas Carol (1843), but since I can’t see how industrialization itself could cause it, I prefer to blame the Inclosure Acts which dispossessed small landholders and thus depressed wages (while the Corn Laws kept food prices high). The new industrialists naturally took advantage of cheap labor, but one cannot reduce wages by offering employment.

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