During seventeenth and eighteenth century, Great Britain pursued protectionism. However, in the first half of nineteenth century, as a result of its establishment as industrial hegemon in Europe, Britain began to adopt free trade policies ("Protectonism," Britannica). "Liberal economists emphasize the importance of the free market and call for only a limited government role in economic activities"(Cohn 81). They argue that "freely operating markets based on a division of labor serve to maximize efficiency and prosperity and that such productive gains are likely to be positive-sum in nature" (Cohn 84). That means that all countries participating in free trade benefit from it. The gains of the states engaging in free trade are greater than its loses.

Adoption of free trade policies was inspired by Liberal writings of Adam Smith, classic liberal, who believed in free trade. Adam Smith was attacking protectionist policies and pushing forward libera

"Protectionism." Encyclopedia Britannica Online. Encyclopedia Britannica,

prepared to share with every other nation in the world" (Platt 86). For instance,

France Revisited: a Comment on Nye." The Journal of Economic History, Vol. 53, No.1. (March 1993): 146-152.

"look for no commercial advantages in any quarter which they would not be

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