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Mercantilism - Mercantilism I Mercantilism(16th-18th c...

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Mercantilism I. Mercantilism (16 th -18 th c.) South Carolina crops – tobacco, sugar, indigo, rice, naval Mercantilism: government should intervene in colony Most sound economic model at the time A. Fixed Amount of Wealth in the World All the wealth was out there and would never grow Wealth: gold and silver B. Favorable Balance of Trade Export more than you import (goal) When you export, you’re getting more money C. Colonies are Important (relationship b/w England & colonies) C.1. Produce what Mother Country does not Caribbean nations – i.e. sugar Wrapped in indigo C.2. Should Not Compete with Mother Country Whatever England was producing (barely) the colonies couldn’t C.3. Produce Raw Materials England doesn’t want finished products (indigo) C.4. Buy British Finished Products A way to foster economic dependence Clothing and goods (Britain makes) C.5. Create Wealth for Mother Country – Employment Created jobs for the English, where naval stores come in
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