Industry

Gerald Pollio ()

Chapter Chapter 5 in The Rise and Fall of Britain’s North American Empire, 2022, pp 75-89 from Springer

Abstract: Abstract The major stumbling block affecting the development of American industry was described by a contemporary traveller to the region. ‘The mother country has the power of introducing her own fabrics as cheap as she pleases and under whatever advantages and bounties or premiums she likes to grant; which she can do in her exportation of them to no other market. Elsewhere they meet with duties on importation, and perhaps prohibitions; but in America the manufactories of Britain are sold openly in every market without duty or clog (J. Crèvecoeur, A. Stone (Ed.). Letters from an American Farmer and Sketches of Eighteenth-Century America . (Penguin Classics, 1981)).’ The fact is the mercantilist mentality demanded that colonies serve the needs of the mother country. Industries that served those needs, such as shipbuilding and iron, were encouraged, while those that competed with British producers were blocked by the Board of Trade. The fact is that America was mainly an agricultural economy, and in the absence of protectionist measures, it is unlikely that domestic industries could have successfully competed against those in England.

Keywords: Mercantilist; Industrial development (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-07484-4_5

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DOI: 10.1007/978-3-031-07484-4_5

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