The 1807–1809 Embargo Against Great Britain
挑战了关于1807-1809年美国对英国禁运失败的传统解释,认为禁运有效使两国陷入自给自足,且英国农产品相对价格涨幅超过美国制成品。
The lack of success of the 1807–1809 Embargo by the United States has generally been attributed, first, to a lack of effective enforcement, and, second, to an inability to inflict greater economic damage on Great Britain than was suffered by the United States. This paper challenges both explanations. It is argued, first, that the Embargo did effectively reduce both countries to autarky. It is argued, second, that in autarky the relative price in Britain of agricultural products that had previously been imported rose by more than the relative price in the United States of manufactured goods that had previously been imported.