The chapter presents a detailed examination of tariff levels in Britain and France during the 19th century, challenging common perceptions about free trade policies. It explores the gradual decline of tariffs from 1840 to 1870, highlighting differences between the two nations and questioning traditional narratives of tariff reduction. The conversation emphasizes the complexity of tariff rates and trade policies, revealing how historical factors and strategic considerations shaped trade relations during this period.
John Nye of George Mason University talks with EconTalk host Russ Roberts about his book, War, Wine, and Taxes. The conversation covers the history of Britain and France's trade policy, why the British drink beer and why Ricardo's example of Britain trading wool for Portuguese wine is bizarre. Nye turns the traditional story on its head--he argues that France was more of a free trader than Britain and that the repeal of the Corn Laws was not the dividing line between Britain's protectionist past and free trade future. At the end of the discussion, Nye emphasizes the importance of domestic free trade for economic growth.