ECON 4130 Lecture 2: Topic 2
Document Summary
Prologue when english colonization began, we think there were about. 300,000 native inhabitants in what became the eastern half of the u. s. by the. Revolution, the population was probably less than 100,000. The objectives behind the english colonization of north america: mercantilism. Mercantilist govt of premodern europe centered on the acquisition and retention of gold and silver(bullion). The english crown saw colonies as a way of increasing their power and improving trade balances. English observed the gold and silver brought back from the new world by the spanish and hoped they would be similarity rewarded for venturing across the ocean. Mercantilists sought to have a favorable balance of trade. If they exported more than they imported, accounts would be balanced by an in ow of gold and silver. So mercantilist saw trade as a zero-sum game, exporter wins, importer loses. They hoped they could grow crops in the.