Patriots Drink Whiskey
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Patriots Drink Whiskey

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Patriots Drink Whiskey Presentation Transcript

  • 1. PATRIOTS DRINK WHISKEY A look at economic protests against the English
  • 2. 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?
  • 3. 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
  • 4. 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
  • 5. Historical background
    • 1767 – Parliament passes the Townshend Act
      • Taxes on glass, lead, paper, paint, tea
    • Colonists make a choice
      • Start signing Non-Importation Agreements
  • 6. 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)
  • 7. 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?
  • 8. 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
  • 9. Why not trade?
    • People gain when they trade. So why wouldn’t we?
    • How do these choices influence trade and exchanges?
  • 10. 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?