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Around 1834 one Belgian commentator wrote that there was nobody left who 
believed in the mercantilistic balance of payment theory as a foudation of 
economic policy. Yet most Western European countries (including Belgium and 
the UK) levied moderate and sometimes even prohibitionist import duties. 
This leaves me with the question on what economic theory, if any, Western 
European trade policy between 1800 and 1850 was based on or inspired by. 
Were protective duties like those of the corn laws inspired by 
mercantilistic ideas or was it something else, if so, what else (theory, 
practice)? 
 
Both opinions and references are welcome... 
 
Maarten Van Dijck 
 
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