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Patriots Drink Whiskey
 

Patriots Drink Whiskey

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    Patriots Drink Whiskey Patriots Drink Whiskey Presentation Transcript

    • PATRIOTS DRINK WHISKEY A look at economic protests against the English
    • An economic mystery
      • 1769 was an confusing time to be alive
        • When tailored, comfortable pants were available, people wore itchy wool pants that never fit properly
        • Paint was available and no one painted their houses, no matter how much they needed it
        • Instead of tea, people drank a mixture of herbs in water that tasted like death and gave you horrible pit-stains
      • Yet the people were happy and, in fact, more friendly with their neighbors than ever before. Why?
    • A quick guide to economics
      • People choose
      • People’s choices involve costs
      • People respond to incentives in predictable ways
      • People create economic systems that influence individual choices and incentives
      • People gain when they trade voluntarily
      • People’s choices have consequences that lie in the future
    • A new autopsy for Elvis!
      • People choose
      • People’s choices involve costs
      • People respond to incentives in predictable ways
      • People create economic systems that influence individual choices and incentives
      • People gain when they trade voluntarily
      • People’s choices have consequences that lie in the future
    • Historical background
      • 1767 – Parliament passes the Townshend Act
        • Taxes on glass, lead, paper, paint, tea
      • Colonists make a choice
        • Start signing Non-Importation Agreements
    • The costs of the colonists’ choice
      • Colonial merchants cut off imports from England
        • What to do with demand?
      • Are there any alternatives?
      • What is the cost of the colonists’ choice?
      • Pretend you’re colonists. Come up with possible alternatives to bringing in new supplies of …
        • Paint
        • Rum
        • Tea
        • Cloth
        • Sugar
        • Manufactured goods (clocks, furniture, carriages)
    • Incentives and disincentives
      • Newspapers provide incentives to fall in line
        • Report merchants who violate the agreements
      • Common people provide “incentives” for each other
        • What are the costs of going against the agreements?
        • What are the benefits of going with the agreements?
    • Rules of the game – economic system
      • Overseas trade
        • Navigation Acts: trade with England or no one
        • Sugar Act: smuggle and you’re in trouble
      • Trade in America
        • Local merchants provide for the towns
        • Newspapers watch for folks breaking the boycott
        • Private citizens keep watch
    • Why not trade?
      • People gain when they trade. So why wouldn’t we?
      • How do these choices influence trade and exchanges?
    • Consequences of our choice
      • England knuckles under
        • How are colonists going to respond to their victory?
        • How are the English going to respond to their defeat?
      • Political consequences
        • What consequences are there for all the colonies working together?
        • What consequences are there for all classes, races, and genders working together?
      • Economic consequences
        • What consequences are there for Americans manufacturing things on their own?