Patriots Drink Whiskey

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PATRIOTS DRINK PATRIOTS DRINK WHISKEY WHISKEY A look at economic protests against the English

Transcript of Patriots Drink Whiskey

Page 1: Patriots Drink Whiskey

PATRIOTS DRINK PATRIOTS DRINK WHISKEYWHISKEYA look at economic protests against the English

Page 2: Patriots Drink Whiskey

An economic mystery

1769 was an confusing time to be aliveWhen tailored, comfortable pants were available, people wore itchy wool pants that never fit properlyPaint was available and no one painted their houses, no matter how much they needed itInstead 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?

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A quick guide to economics

1. People choose2. People’s choices involve costs3. People respond to incentives in

predictable ways4. People create economic systems that

influence individual choices and incentives

5. People gain when they trade voluntarily6. People’s choices have consequences

that lie in the future

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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

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Historical background

1767 – Parliament passes the Townshend Act Taxes on glass,

lead, paper, paint, tea

Colonists make a choice Start signing Non-

Importation Agreements

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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)

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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?

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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

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Why not trade?

People gain when they trade. So why wouldn’t we?

How do these choices influence trade and exchanges?

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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?