Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: controversy, and, at the same time, must insist that all interference has this drawback, viz., that it impairs the working of that mechanism which effects and regulates our economic cooperation. Illustrative Problems. 1. During many years it has been customary for a particular Chicago book house to maintain a temporary agency for the sale of text-hooks in the city of Ann Arbor during the first few weeks of the college year. Give one or more reasons for arguing that it is not expedient for the Ann Arbor citizen or student to give his patronage to such temporary stores. 2. One of the few arguments used by protectionists which teachers of political economy would recognize as sound is known as the Infant-Industries Argument. Develop that argument with some illustrations. 3. Nothing was more contrary to his (O'Connell’s) desire than that her (Ireland’s) population should be greatly diminished and that she should be turned into a great pastoral country, yet nothing is more clear than that the abolition of the Corn Laws, depriving her of her preferential position in the corn market of England, made such a change inevitable. Lecky’s Leaders of Public Opinion in Ireland, volume 2, pages 92-93, quoted by Dicey. (a) What is meant in the above quotation by her preferential position in the corn market of England ? (b) Explain why one might perhaps reasonably expect that the adoption of free trade by the United Kingdom would tend to turn Ireland into a pastoral country with a diminished population. Section G. Interference with the Automatic Regulation of Economic Action Which is Intended to Promote a Different Distribution of Income. Another very important type of interference with the automatic regulation of economic action which is advocated by many persons, has as …