Title: An Essay on the Influence of the External Corn Trade Upon the Production and Distribution of National Wealth
Publisher: HardPress Ltd
Publication Date: 2021
Language: English
ISBN 10: 0371727812
ISBN 13: 9780371727812
Binding: Paperback / softback
Condition: New
Weight: 526 grams

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Synopsis

An Essay On The Influence Of The External Corn Trade Upon The Production And Distribution Of National Wealth by Robert Torrens. This work surveys the general principles governing the external trade in corn and its effects on a nation’s subsistence, wealth, and prosperity. Torrens compares internal and external corn trades, arguing that unimpeded exchange across countries and over time stabilizes food supplies, coordinates capital, and fosters both agriculture and industry. He analyzes how price, wages, profits, and rent interrelate, contending that rising corn prices raise wages and depress profits, while free trade tends to lower prices, expand consumption, and increase productive capacity through better divisions of labor and capital allocation. The treatise also addresses potential exceptions, such as temporary protections during transitions, while offering a rigorous critique of contemporaries like Malthus, Ricardo, and Adam Smith. He argues that public welfare is best advanced by liberalizing corn trade, and outlines the resulting implications for subsistence, agriculture, commerce, and state finances in a gradual, prudent reform path.

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