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Manchester school

 

Political and economic school of thought led by Richard Cobden and John Bright that originated in meetings of the Manchester Chamber of Commerce in 1820 and dominated the British Liberal Party in the mid-19th century. Its followers believed in laissez-faire economic policies, including free trade, free competition, and freedom of contract, and were isolationist in foreign affairs. Its adherents tended to be businessmen, not theorists.

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Political Dictionary: Manchester school
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Name given first by its opponents to the Manchester-based campaign to repeal the UK Corn Laws, 1838-46. The campaign mixed the self-interest of employers in export industries (for whom protectionist barriers to free trade in food added to their costs, as they increased the wages that must be paid to prevent working-class families from starving) with arguments of principle for free trade. The label is sometimes applied, less accurately, to any or all of the doctrines of classical economics which were current at the time.

British History: Manchester School
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This provided a convenient label to identify many of the 19th-cent. advocates of laissez-faire and, in particular, free trade. Widespread support for free trade developed amongst the manufacturers of the cotton industry in Lancashire and Cheshire. The intellectual focus for this movement included Richard Cobden and John Bright. The initial case for removing mercantilist regulations of trade had been made by Adam Smith in The Wealth of Nations (1774).

 
Columbia Encyclopedia: Manchester school
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Manchester school, group of English political economists of the 19th cent., so called because they met at Manchester. Their most outstanding leaders were Richard Cobden and John Bright. Their chief tenet was that the state should interfere as little as possible in economic matters (see laissez-faire), and they advocated free trade.

Bibliography

See F. W. Hirst, ed., Free Trade and other Fundamental Doctrines of the Manchester School (1903, repr. 1968); W. D. Grampp, The Manchester School of Economics (1960).


 
 

 

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