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John Nye discusses Britain and France's trade policies, challenges the traditional narrative of free trade, examines the impact of tariffs on wine trade, explores the historical importance of beer and wine, and analyzes the influence of war on the economy and living standards in 18th and 19th century Britain.
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Quick takeaways
- Contrary to beliefs, France practiced more free trade than Britain in the 19th century.
- British tariffs on French wine inadvertently boosted the domestic beer industry.
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Reevaluation of Britain and France's Trade Policies in the 19th Century
Contrary to the traditional belief that Britain embraced free trade earlier than France in the 19th century, statistical analysis reveals that British average tariffs started from a significantly high level. French average tariffs, on the other hand, remained lower than Britain's for most of the century. The gradual tariff reductions in Britain did not begin with the repeal of the Corn Laws but started earlier, leading to a slow and steady decline in tariffs.
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