This website uses cookies to ensure you have the best experience. Learn more

Mercantilism: Notes And Terms Essay

1085 words - 4 pages

Mercantilism--Under mercantilism, the government directed all economic activities within its borders, subordinating private profit to public good. In particular, government tried to minimize imports and maximize exports. England applied this doctrine to America. But to make the system work, Britain would have to control America too, keep it from trading with other partners.--But many English attempts at controlling American trade = unenforced. 1 reason = sheer distance between colonies and England. Second = politics. Almost all of American colonies = founded before sacendanc of Parliament in 1688, or when ultimate authority in England = uncertain. Much of the time, rulers in Englnd = too concerned with domestic affairs or wars in Europe to think of Americas.--But when Charles II acceded, colonies = significant enough to protect. Thus, merchants pressed Navigation Acts, 1660,63. Basic principles = always the same:1) forbid all trade with colonies except in ships owned or contructed there or in England and manned by crews at least 3/4 English or colonial.2) forbid transportation of certain goods from colonies to any place besides England.3) with few exceptions, forbid transportation of European or Asiatic goods to America from an place besides England.--Later modification = mostly additions to list of restricted goods, or limitations or encouragements of colonial products.--Acts gave government more income, at least indirectly.--Problem of the Dutch: Dutch = at peak at this time. Would be hard to enforce Navigation Acts against their trade with colonies. Charles tried to end Dutch presence in N. America by giving Dutch New Netherlands to his brother and successor, James. He too k it easily. But Dutch waged war on England and continued to violate Navigation Acts.--Establishment of the various colonies:Virginia: First permanent English settlement in N. America = Jamestown, 1607, eventually under John Smith. Economy = largely supported by John Rolfe's tobacco, 1612. Slaves introduced, 1619.Massachussetts: Founded mainly by Pilgrims, from 1620 at Plymouth by Separatist Pilgrims, to 1628 at Mass. Bay Colony by Mass. Bay Co.Rhode Island: A fragment of the Mass Bay Colony, founded by Roger Williams in 1636.Connecticut: Another MBC fragment, led by Thomas Hooker, a Cambridge preacher. 1636.New Hampshire: another MBC spinoff, 1627.Maryland: Founded by Lord Baltimore and his son, under grant from King Charles I. First settled in 1634, as refuge for English Catholics. Hence, the Maryland Toleration Act, 1649.New York: Founded by Dutch West Indian Company. Taken from Dutch in 1664.New Jersey: part of what were the New Netherlands = shunted off to make New Jersey. After initial confusion of property rights, England united the area as royal colony in 1702.Carolinas: Founded by a group of nobles who asked the king for the area. A huge land grant. Tinge on nobility from the noble rulers who originally owned it. Populated largely by footloose farmers from Virginia...

Find Another Essay On Mercantilism: notes and terms

Compare different models and theories of international trade

2775 words - 11 pages flows. The constant and close interaction is successful I if it occurs not only in terms of physical proximity but also through the willingness of firm to work at it.3) Firm Strategy, Structure, and Rivalry: the conditions in the home-nation that either hinder or aid in the firm's creation and sustaining of international competitiveness. He notes that no one managerial, ownership, or operation strategy in universally appropriate. It depends on the

Absolutism in France versus Constitutional Monarchy in England. The political, economic, religous and social effects on England and France

2223 words - 9 pages the belief that kings had a divine right to their authority and were responsible only to him. He did not feel responsible to Parliament or his people, or that he had to share his power with anyone. In this way he introduced absolutism to England.His son Charles I became England's second absolute monarch in 1625. He was similarly foolish in terms of relations with Parliament; however, because of his many foolish wars he needed the money that

athens rome

845 words - 3 pages or interpret laws in England’s gov’t. Believed division of power prevented abuse- ideas in Constitution for separation of power  Rousseau-French-people had right to determine how they should be governed and not some tyrant Colonial Influence:  Mercantilism-nation trying to export more than import-solely for benefit of mother country. This would help mother country strengthen treasury and build military. In return, colonies

Leadership Model Essay

2557 words - 10 pages Leadership Models AssignmentSubmit a 2100 - 2800-word essay in which you compare and contrast the Pre-Classical, Classical, Modernism, and Post-Modernism era leadership models. Evaluate the supporting research that contributed to each model's development, and assess the models in terms of effectiveness for its originating timeframe. Assess how the models relate to one another: are there points of convergence or divergence? Provide references to

Compare and contrast Marx and Weber

4185 words - 17 pages the professor, and the professor as far as the student. These actions would include one going to class, taking notes, listening to the professor, taking exams and writing papers. These actions define one as a student and define Mr. X as a professor. Actions define who one is in society. For Weber this is where Marx failed to define who the proletariat are in relation to the others in society. Marx defines the proletariat in terms of their

Carl Marx and Frederick Engels

2506 words - 10 pages by proclaiming that any ideology so feared must be important and worth explaining clearly. In the notes used in the Manifesto, "Marx" is used as shorthand for both Marx, the theoretician, and Engels who was the better writer out of the two. The Manifesto was originally issued in several languages, including an English version. (Tucker, 161-162). Marx did not make up the class, or did he discover a new way to class people in his theories, he

Economics - International Trade Simulation

1452 words - 6 pages have discussed whether trade brings benefits or harms the nation and have tried to determine what trade policy is best for any particular country (Irwin, 2001). Mercantilism, considered to be the first reasonably systematic body of thought devoted to international trade, emerged in seventeenth and eighteenth century Europe (Irwin, 2001). During this period, mercantilist writers argued that a key objective of trade should be to promote a favorable

General learning Skills

688 words - 3 pages . To add, I record direct quotes only when it’s significant to have the exact words that someone else has used it in. In terms of the writing style, I make acronyms and utilize short abbreviations: for instance, i.e, e,g, etc., and many more. In order to make these notes “user friendly,” I may want to make an attempt to make sure that the particular notes are brief and selective; keeping them well-spaced, so the individual points are clear, and

In-Depth Analysis of the Unification of the American Colonies

1724 words - 7 pages that Americans have of themselves as a single people" (Bailey and Kennedy 95).In terms of economical aspects, the colonies had initially handled their finances separately; however mercantilism and the navigation laws helped unify the colonies. Colonies initially relied on planting their own crops and selling them to England, which meant there was no concept of intercolonial trade. Colonies, such as Virginia and Maryland would plant cash crops such

Reformation and Enlightenment Europe: Absolutism or Democracy?

726 words - 3 pages . During the reign of King Louis XIV of France, Colbert, Louis's finance minister, set up a system of mercantilism, which encouraged new industries to develop and economy to grow. Catherine the Great set up the Legislative Commission, allowing some social ranks to be represented. The Austrian Hapsburgs, Maria Theresa and her son Joseph II eliminated the Jesuits' control. Maria Theresa also curtailed serfdom, which her son eventually abolished

Capaitalism:this is about the subject capatalism, it talks about the history of it, explains it,and is easy to under stand

811 words - 3 pages "productivity"; capitalism increases individualproductivity through the division of labor," whichdivides productive labor into its smallest components.The result of the division of labor is to lower the value(in terms of skill and wages) of the individual worker;this would create immense social problems in Europeand America in the nineteenth and twentieth centuries.Some people support capitalism. Here is a quote"The moral justification of capitalism

Similar Essays

An Inquiry Into The Nature And Causes Of The Wealth Of Nations Adam Smith

693 words - 3 pages mercantilism. Mercantilism, popular in the sixteenth to eighteenth centuries, was the assumption that the wealth of a nation was based on how much precious metal, such as gold or silver, it possessed. Also, a country would limit the amount of imported goods, and maximize exports. (Beattie) In simple terms, a country would try to sell their goods to other countries while they bought nothing in return. Smith argued against these tariffs enforced

Thomas Sowell Vs. Adam Smith Essay

1758 words - 7 pages Sowell presents mercantilism as a misconception of what is best for a nations' economy. This conception is based on what mercantilists think is best, this is to have more goods being exported from your country then goods being imported in to your country. Sowell describes this system as one that benefits merchants who in essence capitalize on the hard work and sweat of the common man or poor man as he puts it. In addition to this system being

The Importance Of Adam Smith's Work To Economic Thought

2161 words - 9 pages day situations, demonstrating the strength of his works. I believe it is first important to mention that Smith was raised in a market environment in which Mercantilism was regarded as the most positive policy with which to increase a countries wealth. This theory is based upon the idea that a countries assets are a measure of its prosperity as a nation, and so therefore was often implemented using such policies as high rates of exports, and low

The Theme Of Incest In The Duchess Of Malfi

922 words - 4 pages social framework of Jacobean England. Whigham points out that by the time Webster was writing, English social structure had become highly differentiated, i.e., owing to the rapid mercantilism a new social class was emerging. The aristocracy was aware of the threat the new rising class could pose ,and was posing, in terms of usurping their privileged position. In the face of such a threat, marriage within an equal status group was the way by which