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One of the most momentous events in Britain's nineteenth-century economic history was the repeal of the Corn Laws and its move toward free trade in 1846. The reasons for this…
Abstract
One of the most momentous events in Britain's nineteenth-century economic history was the repeal of the Corn Laws and its move toward free trade in 1846. The reasons for this event have fascinated students both of the history of economic thought and of international economics for many generations. Introductory textbooks in both these fields of economics discuss the Corn Laws in connection with David Ricardo's principle of comparative advantage and his plea for free trade, particularly in the commodities consumed by the working class such as “corn” (a commodity that in classical times denoted all types of grain such as wheat, barley, and rye). The puzzling feature of this repeal, that intrigued scholars such as Schonhardt-Bailey and impelled them to search for plausible explanations, is that it appeared to run counter to the economic interests of the class of landowners that controlled Parliament and passed this legislation. Numerous explanations for this apparently paradoxical behavior have been advanced by historians, economists, and political scientists, and this book is the latest in this long and diverse series of accounts.
The lockdown and physical distancing precautions to curtail the increase of COVID-19 in Africa nearly shut down economies across the continent, caused slow trade, and triggered…
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The lockdown and physical distancing precautions to curtail the increase of COVID-19 in Africa nearly shut down economies across the continent, caused slow trade, and triggered mass poverty. Hence, the need for Africa to be interconnected with the world economy by reforming its legal systems for swift post-COVID-19 economic recovery, to utilise the legal system in addressing socio-economic shocks. The weaknesses in Africa's legal systems in response to socio-economic shocks uncovered a critical threat to humanity, despite efforts, limited resources and strategies put in place. This research adopts a library-based doctrinal legal research technique with a critical review and conceptual approach by relying on the existing literature. The aim is to explore the potency of the existing legal frameworks, such as the African Continental Free Trade Agreement and the Economic Community of West African States Protocol, to combat socio-economic shocks in Africa's Economy. The study carries out a comparative appraisal of the legal system in Ghana, Angola, Kenya, South Africa and Nigeria for useful insights in suggesting conversion of the pandemic to blessings by reforming their legal systems to embrace technologies to guarantee speedy economic recovery strategies. The study proposes a model for speedy economic recovery via legal instruments to support commercial activities. It ends with recommendations such as the reformation of the legal system to mitigate jobs losses and embrace technologies. Adopting alternative dispute resolution mechanisms, strict implementation of African Continental Free Trade Agreement for economic resilience against future economic shocks.
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Schonhardt-Bailey's goal is to explain the repeal of the Corn Laws. This case is of obvious substantive importance. Schonhardt-Bailey also identifies a good historical puzzle in…
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Schonhardt-Bailey's goal is to explain the repeal of the Corn Laws. This case is of obvious substantive importance. Schonhardt-Bailey also identifies a good historical puzzle in the details of trying to explain legislative voting behavior on Repeal. First, politicians seemed to act against their personal economic and political interests when voting for it. Second, they also acted in a puzzling way when justifying their own behavior. Specifically, Schonhardt-Bailey shows that the politicians voted as delegates of their constituents. Intriguingly, these same politicians justified their votes in terms of a trustee theory of representation in which they acted on behalf of the nation in accordance with their personal best judgment. These votes, though not the justifications, would seem to violate the mandates on which many had been elected, since most had personal mandates and were not sent to the Commons as delegates.
The criterion differentiating “protective labor legislation” and “industrial relations legislation” is not whether they are for or against the interest of labor. The interest is…
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The criterion differentiating “protective labor legislation” and “industrial relations legislation” is not whether they are for or against the interest of labor. The interest is that of the general public, as is the case with all legislation. The basic difference concerns the parties to two types of labor contracts. Protective labor legislation concerns the individual contract and labor relations legislation concerns the contract between the specific groups in the field.
China represents around 20% of the world's population, and her economy is still performing well under economic crisis. Historical events have shaped different parts of China with…
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China represents around 20% of the world's population, and her economy is still performing well under economic crisis. Historical events have shaped different parts of China with different economic developments and cultural encounters. The most prominent difference is between Hong Kong and the Mainland. This chapter would like to examine the development and issues of fashion retailing in China. For better understanding, this chapter starts with a brief discussion on apparel industry development and fashion culture in Hong Kong and the Mainland, follows by historical development and then presents systems of fashion retailing in both Hong Kong and the Mainland. Desktop research and exploratory research techniques were employed. Stores of international fashion luxury brands in Hong Kong, Shanghai and Beijing were visited. Comparison of branding issues, particularly for luxury market in Hong Kong and the Mainland are discussed, so are future directions of fashion retailing in these places.
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