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Corn Laws
The Corn Laws were tariffs and other trade restrictions on imported food and corn enforced in the United Kingdom between 1815 and 1846. The word ''corn'' in British English denotes all cereal grains, including wheat, oats and barley. They were designed to keep corn prices high to favour domestic producers, and represented British mercantilism. The Corn Laws blocked the import of cheap corn, initially by simply forbidding importation below a set price, and later by imposing steep import duties, making it too expensive to import it from abroad, even when food supplies were short. The House of Commons passed the corn law bill on March 10, 1815, the House of Lords on March 20 and the bill received Royal assent on March 23, 1815. The Corn Laws enhanced the profits and political power associated with land ownership. The laws raised food prices and the costs of living for the British public, and hampered the growth of other British economic sectors, such as manufacturing, by reducing t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1815 Corn Law, An Act To Amend The Laws Now In Force For Regulating The Importation Of Corn
Events January * January 2 – Lord Byron marries Anne Isabella Byron, Baroness Byron, Anna Isabella Milbanke in Seaham, county of Durham, England. * January 3 – Austrian Empire, Austria, United Kingdom, Britain, and Bourbon-restored France form a secret defensive alliance treaty against Prussia and Russia. * January 8 – Battle of New Orleans: American forces led by Andrew Jackson defeat British forces led by Sir Edward Pakenham. American forces suffer around 60 casualties and the British lose about 2,000 (the battle lasts for about 30 minutes). * January 13 – War of 1812: British troops capture Fort Peter in St. Marys, Georgia, the only battle of the war to take place in the state. * January 15 – War of 1812: Capture of USS President, Capture of USS ''President'' – American frigate , commanded by Commodore Stephen Decatur, is captured by a squadron of four British frigates. February * February – The Hartford Convention arrives in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Whigs (British Political Party)
The Whigs were a political faction and then a political party in the Parliaments of England, Scotland, Ireland, Great Britain and the United Kingdom. Between the 1680s and the 1850s, the Whigs contested power with their rivals, the Tories. The Whigs merged into the new Liberal Party with the Peelites and Radicals in the 1850s, and other Whigs left the Liberal Party in 1886 to form the Liberal Unionist Party, which merged into the Liberals' rival, the modern day Conservative Party, in 1912. The Whigs began as a political faction that opposed absolute monarchy and Catholic Emancipation, supporting constitutional monarchism with a parliamentary system. They played a central role in the Glorious Revolution of 1688 and were the standing enemies of the Roman Catholic Stuart kings and pretenders. The period known as the Whig Supremacy (1714–1760) was enabled by the Hanoverian succession of George I in 1714 and the failure of the Jacobite rising of 1715 by Tory rebels. The Whig ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wages
A wage is payment made by an employer to an employee for work done in a specific period of time. Some examples of wage payments include compensatory payments such as ''minimum wage'', ''prevailing wage'', and ''yearly bonuses,'' and remunerative payments such as ''prizes'' and ''tip payouts.'' Wages are part of the expenses that are involved in running a business. It is an obligation to the employee regardless of the profitability of the company. Payment by wage contrasts with salaried work, in which the employer pays an arranged amount at steady intervals (such as a week or month) regardless of hours worked, with commission which conditions pay on individual performance, and with compensation based on the performance of the company as a whole. Waged employees may also receive tips or gratuity paid directly by clients and employee benefits which are non-monetary forms of compensation. Since wage labour is the predominant form of work, the term "wage" sometimes refers to a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fair Price
In accounting and in most schools of economic thought, fair value is a rational and unbiased estimate of the potential market price of a good, service, or asset. The derivation takes into account such objective factors as the costs associated with production or replacement, market conditions and matters of supply and demand. Subjective factors may also be considered such as the risk characteristics, the cost of and return on capital, and individually perceived utility. Economic understanding Vs market price There are two schools of thought about the relation between the market price and fair value in any form of market, but especially with regard to tradable assets: * The efficient-market hypothesis asserts that, in a well organized, reasonably transparent market, the market price is generally equal to or close to the fair value, as investors react quickly to incorporate new information about relative scarcity, utility, or potential returns in their bids; see also Rational pri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Thomas Malthus
Thomas Robert Malthus (; 13/14 February 1766 – 29 December 1834) was an English cleric, scholar and influential economist in the fields of political economy and demography. In his 1798 book '' An Essay on the Principle of Population'', Malthus observed that an increase in a nation's food production improved the well-being of the population, but the improvement was temporary because it led to population growth, which in turn restored the original per capita production level. In other words, humans had a propensity to utilize abundance for population growth rather than for maintaining a high standard of living, a view that has become known as the "Malthusian trap" or the "Malthusian spectre". Populations had a tendency to grow until the lower class suffered hardship, want and greater susceptibility to war famine and disease, a pessimistic view that is sometimes referred to as a Malthusian catastrophe. Malthus wrote in opposition to the popular view in 18th-century Europe tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Henry Phelps Brown
Sir Ernest Henry Phelps Brown MBE, FBA (10 February 1906 – 15 December 1994) was a prominent British economist. Early years Phelps Brown was born in Calne, Wiltshire.. He won a scholarship to The Taunton Academy before winning an open scholarship to Wadham College at Oxford University to study first history, and then philosophy, politics & economics. He combined academic achievement with sporting prowess and enjoyment of the social life of the Oxford Union, attaining a First in History in 1927, a First in Politics, Philosophy and Economics in 1929, winning a half-blue for cross country running in 1926, and the Secretaryship of the Oxford Union in 1928. He was president of the Diagnostic Society in 1926. Career Directly following completion of his undergraduate studies in 1929, Phelps Brown was appointed a Fellow of the New College, where he taught economics from 1930 to 1947, following a year in the United States as a Rockefeller Travelling Fellow. Phelps Brown joined the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tonne
The tonne ( or ; symbol: t) is a unit of mass equal to 1000 kilograms. It is a non-SI unit accepted for use with SI. It is also referred to as a metric ton to distinguish it from the non-metric units of the short ton ( United States customary units), and the long ton ( British imperial units). It is equivalent to approximately 2204.6 pounds, 1.102 short tons, and 0.984 long tons. The official SI unit is the megagram (symbol: Mg), a less common way to express the same mass. Symbol and abbreviations The BIPM symbol for the tonne is t, adopted at the same time as the unit in 1879.Table 6 . BIPM. Retrieved on 2011-07-10. Its use is also official for the metric ton in the United States, having been adopted by the United States |
Bushel
A bushel (abbreviation: bsh. or bu.) is an imperial and US customary unit of volume based upon an earlier measure of dry capacity. The old bushel is equal to 2 kennings (obsolete), 4 pecks, or 8 dry gallons, and was used mostly for agricultural products, such as wheat. In modern usage, the volume is nominal, with bushels denoting a mass defined differently for each commodity. The name "bushel" is also used to translate similar units in other measurement systems. Name The name comes from the Old French ' and ', meaning "little box".. It may further derive from Old French ', thus meaning "little butt". History The bushel is an intermediate value between the pound and ton or tun that was introduced to England following the Norman Conquest. Norman statutes made the London bushel part of the legal measure of English wine, ale, and grains. The Assize of Bread and Ale credited to Henry III, , defined this bushel in terms of the wine gallon,. & while th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British House Of Commons
The House of Commons is the lower house of the Parliament of the United Kingdom. Like the upper house, the House of Lords, it meets in the Palace of Westminster in London, England. The House of Commons is an elected body consisting of 650 members known as members of Parliament (MPs). MPs are elected to represent constituencies by the first-past-the-post system and hold their seats until Parliament is dissolved. The House of Commons of England started to evolve in the 13th and 14th centuries. In 1707 it became the House of Commons of Great Britain after the political union with Scotland, and from 1800 it also became the House of Commons for Ireland after the political union of Great Britain and Ireland. In 1922, the body became the House of Commons of the United Kingdom of Great Britain and Northern Ireland after the independence of the Irish Free State. Under the Parliament Acts 1911 and 1949, the Lords' power to reject legislation was reduced to a delaying power. The gov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edmund Burke
Edmund Burke (; 12 January NS.html"_;"title="New_Style.html"_;"title="/nowiki>New_Style">NS">New_Style.html"_;"title="/nowiki>New_Style">NS/nowiki>_1729_–_9_July_1797)_was_an_ NS.html"_;"title="New_Style.html"_;"title="/nowiki>New_Style">NS">New_Style.html"_;"title="/nowiki>New_Style">NS/nowiki>_1729_–_9_July_1797)_was_an_Anglo-Irish_people">Anglo-Irish_Politician.html" ;"title="Anglo-Irish_people.html" ;"title="New_Style">NS.html" ;"title="New_Style.html" ;"title="/nowiki>New Style">NS">New_Style.html" ;"title="/nowiki>New Style">NS/nowiki> 1729 – 9 July 1797) was an Anglo-Irish people">Anglo-Irish Politician">statesman, economist, and philosopher. Born in Dublin, Burke served as a member of Parliament (MP) between 1766 and 1794 in the House of Commons of Great Britain with the Whig Party. Burke was a proponent of underpinning virtues with manners in society and of the importance of religious institutions for the moral stability and good of the state. These views wer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quarter (unit)
The quarter ( "one-fourth") was used as the name of several distinct English units based on ¼ sizes of some base unit. The "quarter of London" mentioned by ''Magna Carta'' as the national standard measure for wine, ale, and grain was ¼ ton or tun. It continued to be used, e.g. to regulate the prices of bread. This quarter was a unit of 8 bushels of 8 gallons each, understood at the time as a measure of both weight and volume: the grain gallon or half-peck was composed of 76,800 (Tower) grains weight; the ale gallon was composed of the ale filling an equivalent container; and the wine gallon was composed of the wine weighing an equivalent amount to a full gallon of grain. Length In measures of length, the quarter (qr.) was ¼ of a yard, formerly an important measure in the cloth trade. 3 qr. was a Flemish ell, 4 quarters were a yard, 5 qr. was an (English) ell, and 6 qr. was an aune or French ell. Each quarter was made up of 4 nails. Its metric equivalent was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shilling
The shilling is a historical coin, and the name of a unit of modern currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence or one-twentieth of a pound before being phased out during the 20th century. Currently the shilling is used as a currency in five east African countries: Kenya, Tanzania, Uganda, Somalia, as well as the ''de facto'' country of Somaliland. The East African Community additionally plans to introduce an East African shilling. History The word ''shilling'' comes from Old English "Scilling", a monetary term meaning twentieth of a pound, from the Proto-Germanic root skiljaną meaning 'to separate, split, divide', from (s)kelH- meaning 'to cut, split.' The word "Scilling" is mentioned in the earliest recorded Germanic law codes, those of Æthelberht of Kent. There is evidence that it may alternatively be an early borrowing of Phoenician ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
