5min chapter

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EP 190 Peter Turchin on Cliodynamics and End Times

The Jim Rutt Show

CHAPTER

The Effect of the Corn Laws on Real Wages

The British Empire was the only large European state that avoided the revolutions of 1848. In short-term, they shipped millions of surplus workers to places like Australia and some of them emigrated also to North America. And then there was a mini wealth pump known as the corn laws which shut down the importation of cheap wheat from the United States. So essentially this mini wealth pump was taking the money from the poor, giving to the rich. All right, so what does it mean for us? We don't, obviously, we live in a different country, different times. There is no corn laws, for example, for us to abolish. What we have is the general guidance. We

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