Abstract
This chapter first takes up the cases of the United Kingdom, Australia, and Canada as the exemplars of protectionism. In addition to, and in connection with, the main plot (ideational disposition and political strategies of ruling parties and leaders), it pays attention to the sectoral and class profile of each economy, the configuration of interests arising from that profile, and formal constitutional arrangements, including electoral rules. It does the same, if in less detail, for the French and New Zealand cases representing attempts to go beyond protectionism.
An earlier version of parts of this chapter was published in “Class, politics, and economic policy at a critical juncture: Canada and the Anglo-American ‘family of nations’ in the Great Depression of the 1930s,” Adnan Türegün, Studies in Political Economy, copyright © 2021 Studies in Political Economy, reprinted by permission of Taylor & Francis Ltd, http://www.tandfonline.com on behalf of Studies in Political Economy.
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Notes
- 1.
International statistics are not consistent or comprehensive but give a rough idea about the relative performance of national economies. According to Safarian ([1959] 2009, 98), the UK national income contracted only by 15% from 1929 to 1932, compared to 24% for Australia, 17% for Austria, 45% for Canada, 12% for Denmark, 16% for France, 41% for Germany, 17% for Sweden, and 52% for the United States. The UK real national product contracted only by 14% in the same period, compared to 10% for Australia in 1927–1932, 29% for Canada in 1929–1932, 26% for France in 1929–1936, 16% for Germany in 1928–1932, and 30% for the United States in 1929–1932 (Schedvin 1970, 44).
- 2.
Keynes himself made his case for deficit-financed public works programmes via the Economic Advisory Council and its successor Committee on Economic Information in the 1930s (Howson and Winch 1977) .
- 3.
At least in monetary terms, this was the formula used by countries which experienced deflation in the 1920s. Conversely, those countries which experienced (hyper)inflation in the decade were reluctant to leave the gold standard, devalue the currency, or lower the interest rate (Eichengreen 1992, 394; Solomou 1996, 32, 48–9).
- 4.
UK unions were traditionally organized along craft lines and numbered well over 1000 in the interwar period (Mitchell 1962, 68).
- 5.
As of 1930, the “Big Five” were Midland, Lloyds, Barclays, Westminster, and National Provincial banks (Mackenzie [1932] 1935, 20).
- 6.
Even in 1929, when the intra-imperial trade was at a low, Australia sent 38% of its exports to, and received 40% of its imports from, the United Kingdom (Hancock 1942, 306).
- 7.
Full adult suffrage was achieved in 1902 at the federal level and in 1908 at the state level (James and Markey 2006, 24). For the Aboriginals, however, it had to wait until 1962.
- 8.
Before the ALP formed its first majority government in 1910, it briefly ruled as a minority government in 1904—both nationally first by a labour or socialist party in the world. As early as 1899, Queensland had a labour government for a brief stint—the first subnational government of its kind (Dyrenfurth and Bongiorno 2011, 29, 50).
- 9.
Theodore had resigned from the cabinet earlier in 1930 over an investigation into his handling of a government purchase of mines while he was serving as the premier of Queensland in 1922.
- 10.
In this context, efforts (see, e.g., Graham 1966, 1–30) to establish parallels between the Country Party and the North American agrarian third parties are misplaced.
- 11.
Alternatively, John Murphy (2010) argues that the delay in unemployment insurance legislation was because of the presence of compulsory wage arbitration as a “neighbouring policy institution,” which presumably made employers reluctant to contribute further to the wage bill.
- 12.
A Canadian commentator observed in 1917: “Consult the annals of Canada for the past fifty years at random, and whatever party may be in power, what do you find? … The government is building a railway, buying a railway, selling a railway, or blocking a railway” (quoted in Skelton 1922, 244–5).
- 13.
- 14.
- 15.
They also wanted the abolition of the Senate as an unelected body. The prime minister of the day appointed its members.
- 16.
It was part of a worldwide movement spearheaded by the Communist International in 1935 in an about-face of its sectarian approach to socialist, social democratic, labour, and other left parties.
- 17.
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Türegün, A. (2022). Protectionism: A Safe Haven or Missed Opportunity?. In: Policy Responses to the Interwar Economic Crisis. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-96953-0_3
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