American Revolution
American Revolution
American Revolution
IMMEDIATE CAUSES
1) Lord Norths Tea Policy led to Boston tea party ref pg 105 JnM
2) Boston tea party led to formulation of suppressing laws by lord North and George
III.. boston port was put on embargo until the damages had been paid for the tea
party act. This meant economic ruin of boston.
3) Intercontinental conference of congress.. ref pg 106 JnM
Declaration of independence on 4th july 1776... ref pg 106 JnM
French, Spanish, Holland declared war on british. French participation was
a turning point in the war. War ended in 1783
Paris pact
1. Britain granted independence to American colonies
Export subsidies;
Limiting wages;
Mercantilism in its simplest form was bullionism, but mercantilist writers emphasized
the circulation of money and rejected hoarding. Their emphasis on monetary metals
accords with current ideas regarding the money supply, such as the stimulative effect of
a growing money supply. Specie concerns have since been rendered moot by fiat
money and floating exchange rates. In time, the heavy emphasis on money was
supplanted by industrial policy, accompanied by a shift in focus from the capacity to
carry on wars to promoting general prosperity. Mature neomercantilist theory
recommends selective high tariffs for "infant" industries or to promote the mutual
growth of countries through national industrial specialization. Currently, advocacy of
mercantilist methods for maintaining high wages in advanced economies are popular
among workers in those economies, but such ideas are rejected by most policymakers
and economists