American Economic History ECON/HIUS 2006
Prof. Mark Thomas
MWF 10:30-11:30 office hours
In 204 Levering Hall
1600-1945 Economic History
THE COLONIAL ECONOMY, 1607-1775
Tobacco, Rice and Colonial Growth
Monetary Aspects of
LECTURE NOTES THE IMPACT OF THE CIVIL WAR
Did the American Civil War stimulate or retard economic growth?
Civil War increased demand for key industrial goods
Both North and South
Stimulated economic growth
Civil War was a watershed
a) Political and Philosophical traditional
c) Smithian Document?
i) Good government
ii) Strong, limited government
iii) Market economy supported by
(1) Strong defense
(2) Conduct embraces natural order/competition
Morris- under articles of confederation
Hamilton under the new constitution
Agriculture is the old system- manufacturing is the new system
Attempt to have economic policy to promote manufacturing
o Contradicted the ideal
The Economics of the Constitution
Walton and Rockoff, Ch. 7.
Curtis P. Nettels, "The Economics of the Constitution," in
Thomas C. Cochran and Thomas B. Brewer (eds.), Views of
American Economic Growth, Vol. I, pp. 80-92.
Lecture 9/28: New American Economy
Econ 2060 with Mark Thomas Final Exam Review
South has lower income per person in 1860 then North and Mid-Atlantic but greater than rest of U.S.
o Result of less urbanization and less railroad penetration
Dual economy- separation between the m