Adam Smith 's Criticism Of The Corn Laws

842 Words Aug 16th, 2015 4 Pages
In this essay, I have two primary objectives. The first, and key objective, is to examine Adam Smith’s criticism of the Corn Laws. Smith argues that the Corn Laws are wrong on practical grounds, because he shows that enacting a free market system is much more effective at regulating the corn market by controlling prices and demand more efficiently; and through this he also introduces the moral dilemma with the corn laws; that the laws created an injustice on the people, in particular the farmers and dealers, because it does not allow them to work to their own advantage and self-interest; whereas people should have the right to trade freely. This will then follow on to my next discussion, where I deliberate what we can learn from Smith’s discussion on the moral limits of markets, i.e. the state should not intervene in the market, because doing so can create many moral problems. First Criticism: The Practical Issue
The first factor of this critique is that there are no differing interests at all between inland corn dealers and consumers. The entrepreneur has in his mind only his interests, and it is through trying to achieve these interests that he meets the interests of everybody else. In this sense, if the government left the business of corn trade to the dealer, farmers, and the market, then, as Smith argues, the market would be in harmony and everybody would benefit from the market mechanisms in place.
However, if the government placed a bounty on corn trade, or, in order…
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