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Free trade, alone, explains the varying fortunes of British industry and agriculture”. How valid is this view of the period 1846-68?
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"Free trade, alone, explains the varying fortunes of British industry and agriculture". How valid is this view of the period 1846-68? There is doubt that during the years 1846-68, the British industry and agriculture experienced a period of vast growth and varying fortunes. Free trade has been seen by many historians as the main motive for such a successful period, it in theory makes the world a richer place, but undoubtedly there were other remarkable improvements in Britain which accounted for the varying fortunes of industry and agriculture. There had been good developments in agriculture, seeing an increase in prices and exports. Firstly, there was stability in the price of wheat and other prices rose steadily; wheat in 1851-55 was 3% above the 1840 price. However, the best growth in prices laid in livestock related areas. A steady increase in major elements of production also had a good impact on farmers generally....
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