By Colin Renfrew, J. Malcolm Wagstaff
A compilation of essays in regards to the archaeology and background of Melos, from the Stone Age to fashionable occasions.
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Additional resources for An Island Polity - The Archaeology of Exploitation in Melos
But what was to be done when private enterprise led to monopoly and as a result competition was extinguished? Adam Smith had made plain his intense dislike of monopoly, but he had not been presented with the 40 situation where choice lay between intervention and the passive acceptance of a permanent monopoly. However, on the basis of his clearly expressed view that the interests of the consumer should take precedence over those of the producer, it may be inferred that he would have thrown his weight on the anti-monopolist side.
The state could never, even if it wished, entirely extricate itself from involvement in the industrial life of the nation, but trade could be, and was, made free. The work of Huskisson, Peel and Gladstone was seen as a deliberate 'application of laisse;;-faire principles to our commercial system'. 59 This view is valid as far as it goes, but it is an oversimplification of the issues at stake in the free trade controversy. The achievement of free trade was the re))ult of a combination of forces of which the ideological pressure for laissez-faire was only one.
Nor did the advent of free trade bring a sharp switch from indirect to direct taxation. In 1850 the reintroduced income tax only provided 10 per cent of government income; a further 8 per cent came from the land and other assessed taxes. On the other hand two-thirds of government revenue still accrued from the proceeds of customs and excise. Even in 1890, when on the one hand trade was at its freest, and on the other death duties had been introduced, indirect taxes still accounted for three-fifths of government income.
An Island Polity - The Archaeology of Exploitation in Melos by Colin Renfrew, J. Malcolm Wagstaff