10-21-08_Lecture_Notes - Economics 323 (10/21/08) Today:...

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Economics 323 (10/21/08) Today: Egnal, Perkins 5,6, Beard, McGuire Thursday: Perkins 9,10, North 2-5, Adams Tuesday: No new reading oberserved D with nav w/o nav 0.4 to .06 growth in per capita income terms over 3% per year gnp economy growth rapidly and population nearly as rapidly agg income 900- 1000 dollars of 1990 (1400-1500 dollars today) why did the colonists revolt? - economics plays an important or central role - over the long term the colonists have been treated poorly due to the navigation acts - by the late colonial period they had had it with british regulation - others say, british colonial policy 1763 french kicked out of north America and this change, not long term subjection to mercantilism - other suggestion- colonists started to look forward at their economic prospect over time the navigation acts are beefed up 1696+ amendments to become a greater irritant over time how can we measure the impact of the navigation acts? Restrictions on export of manufactured goods, which effect only a small portion of colonial manufacturing most of which were violated so didn’t really hurt the colonies Bounties on production of goods benefited the colonies All trade must go in English ships – some are hurt and others are not so it is hard to see if it really hurt the colonies Enumeration was the biggest hurt- items that must go through England- list of colonial exports
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10-21-08_Lecture_Notes - Economics 323 (10/21/08) Today:...

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