How do liberals such as David Ricardo view international trade? Why do they hold this opinion? Explain how the Corn Laws debate in nineteenth-century Britain illustrates the conflict between mercantilist and economic liberal views of international trade.

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The Answer is Liberals such as David Ricardo view international trade as beneficial for all parties involved. They believe that free trade allows countries to specialize in the production of goods in which they have a comparative advantage, leading to increased efficiency and overall economic growth. They hold this opinion because they believe that free trade leads to lower prices for consumers, increased competition, and the efficient allocation of resources.

The Corn Laws debate in nineteenth-century Britain illustrates the conflict between mercantilist and economic liberal views of international trade. The Corn Laws were a series of tariffs and trade restrictions on imported grain, designed to protect domestic agriculture. Mercantilists supported these laws, believing that they would protect domestic industries and maintain a favorable balance of trade. On the other hand, economic liberals, such as David Ricardo, opposed the Corn Laws, arguing that they were detrimental to overall economic welfare. They believed that free trade would lead to lower food prices for consumers and allow resources to be allocated more efficiently.

The debate over the Corn Laws ultimately led to their repeal in 1846, marking a victory for economic liberal views of international trade. This event demonstrated the clash between the protectionist, mercantilist approach and the liberal, free trade approach, and highlighted the potential benefits of embracing international trade and removing barriers to it.

How Do Liberals Such as David Ricardo View International Trade