Question

How was Britain’s food problem solved after the ‘Corn Law’ repeal? Clarify.

Hint:

The repeal of the Corn Laws is seen as an early victory for free trade principles, promoting international commerce and reducing protectionism in Britain. It also laid the foundation for the future economic policies of globalization.

Answer 1

The Corn Laws in Britain, which were enacted in 1815, imposed tariffs on imported grain (corn) to protect domestic agricultural interests. However, these laws led to higher food prices and hardships for the urban poor. The repeal of the Corn Laws in 1846, under Prime Minister Sir Robert Peel, had several important consequences that solved Britain’s food problem:

1. Lower Food Prices:
The repeal of the Corn Laws allowed cheaper grain imports, particularly from countries like the United States and Ireland. This led to a significant reduction in food prices, making food more affordable for the working class, especially in urban areas.
2. Expansion of Free Trade:
The repeal marked a shift towards free trade policies in Britain. It encouraged international trade and the flow of cheaper goods, not just food, which benefited British industries and led to economic growth. The move was a major step in the development of modern capitalism in Britain.