The Economy Of Colonial America

The colonial era is especially appealing in regard to economic history because it represents a study in contrasts. The economy was exceptionally dynamic in terms of population growth and geographical expansion. No major famines, epidemics, or extended wars intervened to reverse, or even slow down appreciably, the tide of vigorous economic growth. Despite this broad expansion, however, the fundamental patterns of economic behavior remained fairly constant. The members of the main occupational groups - farmers, planters, merchants, artisans, indentured servants, and slaves - performed similar functions throughout the period. In comparison with the vast number of institutional innovations in the nineteenth and twentieth centuries, structural change in the colonial economy evolved gradually. With the exception of the adoption of the pernicious system of black slavery, few new economic institutions and no revolutionary new technologies emerged to disrupt the stability of this remarkably affluent commercial-agricultural society. Living standards rose slowly but fairly steadily at a rate of 3 to 5 percent a decade after 1650. (Monetary sums are converted into 1980 dollars so that the figures will be relevant to modern readers.) For the most part, this book describes the economic life styles of free white society. The term "colonists" is virtually synonymous here with inhabitants of European origin. Thus, statements about very high living standards and the benefits of land ownership pertain only to whites. One chapter does focus exclusively, however, on indentured servants and slaves. This book represents the author's best judgment about the most important features of the colonial economy and their relationship to the general society and to the movement for independence. It should be a good starting point for all - undergraduate to scholar - interested in learning more about the seventeenth and eighteenth centuries. This popular study, lauded by professors and scholars alike, has been diligently revised to reflect the tremendous amount of new research conducted during the last decade, and now includes a totally new chapter on women in the economy. Presenting a great deal of up-to-date information in a concise and lively style, the book surveys the main aspects of the colonial economy: population and economic expansion; the six main occupational groups (family farmers, indentured servants, slaves, artisans, great planters, and merchants); women in the economy; domestic and imperial taxes; the colonial monetary system; living standards for the typical family

By the American Revolution, the farmers and city-dwellers of British America had achieved, individually and collectively, considerable prosperity. The nature and extent of that success are still unfolding. In this first comprehensive assessment of where research on prerevolutionary economy stands, what it seeks to achieve, and how it might best proceed, the authors discuss those areas in which traditional work remains to be done and address new possibilities for a 'new economic history.'

White servitude was one of the major institutions in the economy and society of early colonial British America. In fact more than half of all the white immigrants to the British colonies sold themselves into bondage for a period of years in order to migrate to the New World. Professor Galenson's study of the system of indentured servitude analyses rigourously the composition of this labour force and provides a quantitative description of the demographic, social and economic characteristics of more than 20,000 indentured immigrants. The author examines the interactions between indentured, free and slave labour and provides a framework for analysing why black slavery prevailed over white servitude in the British West Indies and the southern mainland colonies and why both types of bound labour declined to insignificance in the northern colonies of the mainland.

This book explores the economic factors that led to Britain forfeiting its North American colonies. Placing discussions within both a historical and political context, the development of the colonial economy is examined in relation to both slavery and the industrial revolution. In turn, changes to British tax policy post-1760 and the increased burden placed on American taxpayers are detailed, alongside the resentment and resistance to them. These factors, as well as nonimportation agreements and boycotts, are highlighted as the major motivations for the American Revolution. This book aims to provide an accessible foundation to the economic and political issues central to Britain’s colonial activities in North America. It will be relevant to students and researchers interested in the political economy and economic history.

With this book, Allan Kulikoff offers a sweeping new interpretation of the origins and development of the small farm economy in Britain's mainland American colonies. Examining the lives of farmers and their families, he tells the story of immigration to the colonies, traces patterns of settlement, analyzes the growth of markets, and assesses the impact of the Revolution on small farm society. Beginning with the dispossession of the peasantry in early modern England, Kulikoff follows the immigrants across the Atlantic to explore how they reacted to a hostile new environment and its Indian inhabitants. He discusses how colonists secured land, built farms, and bequeathed those farms to their children. Emphasizing commodity markets in early America, Kulikoff shows that without British demand for the colonists' crops, settlement could not have begun at all. Most important, he explores the destruction caused during the American Revolution, showing how the war thrust farmers into subsistence production and how they only gradually regained their prewar prosperity.

Focusing on the Connecticut River Valley—New England's longest river and largest watershed— Strother Roberts traces the local, regional, and transatlantic markets in colonial commodities that shaped an ecological transformation in one corner of the rapidly globalizing early modern world. Reaching deep into the interior, the Connecticut provided a watery commercial highway for the furs, grain, timber, livestock, and various other commodities that the region exported. Colonial Ecology, Atlantic Economy shows how the extraction of each commodity had an impact on the New England landscape, creating a new colonial ecology inextricably tied to the broader transatlantic economy beyond its shores. This history refutes two common misconceptions: first, that globalization is a relatively new phenomenon and its power to reshape economies and natural environments has only fully been realized in the modern era and, second, that the Puritan founders of New England were self-sufficient ascetics who sequestered themselves from the corrupting influence of the wider world. Roberts argues, instead, that colonial New England was an integral part of Britain's expanding imperialist commercial economy. Imperial planners envisioned New England as a region able to provide resources to other, more profitable parts of the empire, such as the sugar islands of the Caribbean. Settlers embraced trade as a means to afford the tools they needed to conquer the landscape and to acquire the same luxury commodities popular among the consumer class of Europe. New England's native nations, meanwhile, utilized their access to European trade goods and weapons to secure power and prestige in a region shaken by invading newcomers and the diseases that followed in their wake. These networks of extraction and exchange fundamentally transformed the natural environment of the region, creating a landscape that, by the turn of the nineteenth century, would have been unrecognizable to those living there two centuries earlier.