...The United States experienced remarkable transformations throughout the 18th century. The Americans achieved independence from the most powerful empire in the world at that time, Great Britain. American society and government changed radically as a result of the American Revolution. Colonists were seeking wealth, involvement in politics, and exploration of freedom and North American land. However, one of the most important developments of this time period was in the economy. The colonial economy in the 18th century experienced a dramatic shift due to the notion of the “American Dream” which was explained by Ben Franklin in his work Way to Wealth. Franklin’s idea was prevented by the oppressive taxes imposed by Britain and caused unrest in...
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...Invisible Hand In the 18th century Adam Smith came up with a concept called the invisible hand theory. This concept shaped the way we use the free market today. What the invisible hand theory consist of is the fact that people in general are looking out for their own personal self-interest and that alone will create a higher demand for goods and services. This concept will generate profit and resources will be made available throughout the economy. It creates a profit motivation of individuals that drive an economy. With the book; The Wealth of Nations Adam Smith installed himself as the leading expositor of economic thought. Adam Smith was born in Kirkcaldy, Scotland. His widowed mother raised him. When he was fourteen he entered the University of Glasgow on scholarship. During this time period this was usual practice. After that he attended Balliol College at Oxford. He graduated with knowledge of European literature and ongoing contemnor for English schools. When he returned home he delivered a series of well received lectures. He left the academy in 1764 to be a tutor for young dukes of Buccleuch. This is where he began to travel for more than two years throughout France and into Switzerland. They describe it as an experience that brought Smith into contact with his contemporaries Voltaire. Since he received a life pension from the service of the duke he retired to his homeland and that’s when The Wealth of Nations was written. The same year the American Independence was signed...
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...Introduction Industrialization increased tremendously during the 18th and 19th century leading to the success growth of United States as far as overall wealth during the rise to power on its wake. This paper focuses on the different aspects of industrialization that occurred and the various groups that were affected during this period of time, and overall what the effect of industrialization did for America. Three Aspects of the Industrial Revolution Referred to commonly as the second Industrial Revolution, three major aspects during this time immensely played apart towards the shaping of our country as we know it and they were our society, the economy and our politics. Society was largely a big part of the industrialization period and underwent the most significant changes. Large amounts of rural to urban migration occurred due employment because of the creation of organizations and companies. The infrastructure and building of railway lines for transportation of raw materials to distinctive states was happening as well during this time. Significant use of iron and steel created several opportunities for industrialization versus agricultural hence making the United States more of an industrialized nation and less agricultural. Our economy at the time played a major role at this time, and was the second aspect of industrialization. During this time rapid growth in society was experienced with the expansion of companies and the improvement of their internal progression....
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...Submitted to Ms. Roseliza Binti Mohd Ramly (HIS 251) Date of Submission 12 November 2014 INTRODUCTION Massachusetts which is officially the Commonwealth of Massachusetts is a state in the New England region. Massachusetts has played a major role in historical, cultural, and mercantile role in American history. Plymouth, which was a colony located in Massachusetts, was founded by the Pilgrims (travelled on Mayflower) in 1620. Harvard College, which is currently known as Harvard University, is the oldest higher learning institution in the United States. John Harvard contributed in the early progress of the college....
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...Mercantilism is an economic theory practice, commonly used in Europe from the 16th to the 18th century that promoted governmental regulation of a nation’s economy for the purpose of augmenting state power at the expense of rival national powers. It was the economic counterpart of political absolutism.[1] It includes a national economic policy aimed at accumulating monetary reserves through a positive balance of trade, especially of finished goods. Mercantilism dominated Western European economic policy and discourse from the 16th to late-18th centuries.[2] Mercantilism was a cause of frequent European wars and also motivated colonial expansion. Mercantilist theory varied in sophistication from one writer to another and evolved over time. High tariffs, especially on manufactured goods, are an almost universal feature of mercantilist policy. Other policies have included: Building overseas colonies; Forbidding colonies to trade with other nations; Monopolizing markets with staple ports; Banning the export of gold and silver, even for payments; Forbidding trade to be carried in foreign ships; Export subsidies; Promoting manufacturing with research or direct subsidies; Limiting wages; Maximizing the use of domestic resources; Restricting domestic consumption with non-tariff barriers to trade. 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...
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...Market: Indications of an Early Commercialized Economy LUIS ALONSO ALVAREZ Translated from Spanish by Trinidad O. Regala Before the Spanish conquest, Filipinos thrived on a system of mere subsistence.The Spaniards realized that in order for them to effectively maintain control of the colony they must improve the production of food and resources in the islands. To do this, the Spaniards instituted revenue-generating measures such as systematic taxation and compulsory sale of agricultural products to the colonial government. Later, having been introduced to better farming equipment, the natives were able to practice a more intensive form of agriculture that enabled them to sell to Chinese traders at higher market prices and fulfill their tax requirements. The 16th century galleon trade and a war against the Dutch, both of which required a vast array of construction materials and manpower, put an enormous strain on food and supply requirements and prompted colonial authorities to implement more coercive taxation and forced labor. By the 17th century, a survey of Manila provisions revealed growing mercantilism and a stable food supply owed to improved trading and surplus from trade and friar farmlands. No longer dependent on galleon trade, new patterns of consumption, foreign demand for agrarian resources and a legitimate labor market at the beginning of the 19th century signaled the era of modernization and growth for the Philippine economy. During its occupation of the Philippines...
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...Once a year professional and armature historians pilgrimage to Mississinewa 1812, the largest War of 1812 living history museum in the United States. Historians and reenactors portray individuals from the late 18th and early 19th centuries and share their Northwest Territory experiences. In the midst drum circles, battles, and artisans, two simple objects stood out as a tangible representation of the struggle for survival in the Northwest Territory and its inhabitance’s self-asserted identity: a trade musket and powder horn. The musket and powder horn were working replicas based on artifacts and the accounts of 18th century French fur traders. These objects were essential tools for economic advancement and survival in the Northwest Territory....
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...Question 1: In what ways did the character and composition of the black population and the institution of slavery in the Chesapeake change between the middle of the seventeenth century and the early decades of the eighteenth century? The early Chesapeake was characterized by a labor system heavily dependent on indentured servants, primarily young, single men from England who contracted to work for a set period of time in exchange for passage to the New World. This system, however, faced significant challenges. The mortality rate among indentured servants was high due to harsh conditions, disease, and inadequate provisions. Moreover, as the colony expanded and the demand for labor grew, the supply of indentured servants began to dwindle....
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...began the in bark on gaining their freedom from its dominate hold and control and went to war with the help of France and won. After gaining their independence America was now starting over with no financial stability to help sustain its colonies, so America began to borrow loans from other countries to help establish its economy. The nature of the American economy in the last decade of the 18th century and the attempts by its citizens and leaders would help define the United States in so many ways. When the colonists gained their freedom and independence little did they know the challenges that they would face in forming the nation's economic system. Early on in the quest to establish the economy, America realized that manufacturing and the trade of farming would help start their economic journey and gain them a financial beginning. For “Production, either agricultural or manufacturing, was at the heart of the domestic economy.” American manufacturers of goods and farmers no longer were under the rules of Great Britain and now had more freedom to do as they wished in order to gain wealth for the economy and themselves. The biggest changes in the economy really began when a unknown young man by the name of Andrew Jackson, who was orphaned as a child by the death of his parents and who had no political background became the 7th President of the United States in 1829. President Jackson...
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...Britain instead of the Low Countries primarily because of Britain’s abundant and cheap coal resources, combined with the central government’s ability to use mercantilist policies and naval power to reap the greatest benefits from an expanding European and world trade. Once it had taken the lead from the Dutch, and defeated the French, Britain used its comparative advantage to consolidate its dominant position through free trade until the late Victorian period when its technological innovations spread to its competitors. While he agrees that the political, cultural and scientific context of British industrialization was important to its primacy, his approach does not claim, as many interpretations have, that British, and later European and American,...
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...the sustainable use of natural resources (Bulkan, 2016a). Preservation is the concept of forests being a “never failing fountain of wealth and beauty” for everyone to relax and enjoy, not for economic prosperity (Muir, 1901, p.51). This can be achieved by creating protected areas, allowing nature to be uninterrupted and uninfluenced by man (Bulkan, 2016a). Conservation, on the other hand, is the practice of sustainably using forests for development, for the present and future generations (Pinchot, 1910, p. 33). Natural resources are to be efficiently utilized while reducing...
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...Nakesha Kincaid Midterm Exam Someone once asked a question about the biology of the American woman between the colonial and progressive eras. Was is destiny? Is it even fair to assume that it might be? Depending on which side of the fence you’re standing on, you may assume it to be fair, or on the hand, unjust. The argument can go both ways, but before one can even began to answer the question, one must know what life was like for the American woman in each era being discussed. In the colonial era, between the late 17th and early on into the 18th century, the American woman lived a basic, but strict way of life. They had no characterized legitimate way of life as a person. Women began to despise being stifled socially and legitimately with the consistent changing of law confining the freedoms allowed to their sex. Their lone outlet was gossip, enabling them to have a level of control over their own lives and the lives of others. The fine subtleties found inside hopeful womanhood could add to the strains producing doubts among the female sex. In the late 1680s, Gender parts had started to separate. The development of the economy and exchange affected ladies. As the limits of the states developed, ladies' financial conditions turned out to be more...
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...Practice Questions 1. Self assessment tools can be useful in your career planning by a. Helping you prepare a personal profile 2. In contrasts to formal tests, informal measures a. Rely on subjective opinions 3. People who believe that rewards in life are generally outside their control a. Have an external locus of control 4. Your career interests include your favorite kinds of work activities. Most of these interests a. Will still be enjoyable after many years 5. Career interest assessments a. Identify occupations or occupational groups that most likely match your interests 6. Recent research about life stages suggests that a. Adults make dramatic changes in their personal lives and careers as their core values change 7. The works of John Holland and Carl Jung serve as the basis for two major career assessment approached related to a. Personality 8. According to Duane Brown’s career model a. People have different values because they have different experiences and opportunities 9. ESTP is an example of a. Myers Briggs temperament type 10. Among the three most common types of measurement in a complete battery ability tests, you should expect to be tested on a. Psychomotor abilities 11. The College Level Examination Program is an example of a. Achievement measures 12. In assessing your skills...
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...Age of Conquest or Age of Exploration: Taking place around the early 15th century, Europeans began to seek new lands and resources. Began to venture out into the Western world to claim new lands and colonize. The Europeans exploring the west were mainly the Spanish, Portuguese, English and the French. The Age of Conquest would be referring to the Europeans taking over native inhabitants of the new world by a hostile method and implementing their new ways of life. It also brought slavery to the people, harsh working conditions, religion and exploiting them in any possible way. As for the Age of Exploration referred to the royal crowns back home sending out conquistadors and travelers to discover new lands, routes, trading posts, resources and map out the world. * Upon arriving to the new world, the Europeans began to kill off any resistance to their campaign. Attacked the natives, destroyed their lands, began to farm for natural resources, and enslaved some of the indigenous people. * Europeans believed by law and their given rights that their Gods had permitted them to take over and exploit any new cultures they encountered. * The Spanish Reconquista of 1492 made it so that it justified Christianity by exiling all of the Jews and Muslims. Therefore Christianity had to be spread, making it “alright” to overpower others and take over. * Christopher Columbus is sent out in 1492 to the Americas. The exploration lead to them colonizing, which later leads to the...
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...Feb 2014 HOW SLAVERY BEGIN AND END IN AMERICA The origin of Africa slavery begins with triangular trade, which involved in taking manufacture goods like cloth, spirit, tobacco, metal goods and guns from Europe to Africa. These goods were exchange for African slaves. The guns were used to help African kings to expand their empires and obtain more slaves. The middle passage involved shipping of the slaves to the American, while the Europeans return to Europe with the goods, produce from the slave labor plantations like cotton, sugar, Tobacco etc. In 1619, the Dutch introduced the first 20 captured Africans to America, planting the seeds of a slavery system that evolved into a nightmare of abuse and cuelty that would ultimately divide the nation. After 1619, when a Dutch ship brought 20 Africans ashore at the British colony of Jamestown, Virginia, slavery spread throughout the American colonies. Though it is impossible to give accurate figures, some historians have estimated that 6 to 7 million slaves were imported to the New World during the 18th century alone, depriving the African continent of some of its healthiest and ablest men and women. The demand for slaves on plantation produced two distinct types of slaves, rural and urban. Rural slaves worked on plantation usually from dawn till dust, driven by their overseer. While urban slavery result from the lack of white laborers in the mining and lumber industries, because many whites defected to the cotton industry...
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