ABSTRACT
Between the two world wars Britain reversed a commercial policy that had lasted for almost a century. Britain had been the leading exemplar of the free-trade doctrine, and the question, which is the subject of this chapter, is why the reversal? Seeking the sources and origins of protectionism has proved hazardous. For some it is essentially a matter of politics. For others there are clearer economic explanations. In recent times economic analysis of politics has proved both popular and insightful-the economics of public choice. Others have pointed to the need for the appropriate climate within which pressure groups and interest can express themselves with effect.
