The Limits to Laissez-Faire

  • John Maloney


It was free trade, however, that Lowe carried closest to his heart as he returned to England. The repeal of the Corn Laws, he wrote soon after he arrived home, ‘overleaps the ordinary achievements of legislation as the Arc de Triomphe towers over the low-lying buildings at its feet’.1 In one of his first parliamentary speeches he praised Gladstone’s budget of 1853 for upholding ‘the grand principle of Free Trade — far more valuable than Free Trade itself — that no one class in the country should be made tributary to another class’.2


Political Economy Free Trade Limited Liability Railway Company Auxiliary Principle 
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© John Maloney 2005

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  • John Maloney

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