Vocabulary:
private property: this is the basic belief that people have a right to own their own stuff and decide what they want to do with it
free enterprise: the economic system that is based on private ownership of property, a market economy that is dictated by the laws of supply and demand, and economic choice by participants
self-government: each colony had its own assembly, to help make rules for the colony to follow- as long as they did not violate the King's expectations
individual rights: this is the notion that all citizens are entitled to certain rights, as human beings, which should be protected and honored, even by the government |
Other Links:
The idea of individual rights was brought from England. Click here to check out the English Bill of Rights! Do you want the long and complicated explanation of mercantilism? Then click here!
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More Notes:
The MERCANTILE SYSTEM seems a little bit complicated sometimes. Basically, it dealt with the relationship between the colonies and the mother country. The goal of the mercantile system is to gain as much gold and silver as possible, as well as to create a favorable balance of trade. Here's how it worked:
The colony would harvest raw materials to be sent to the mother country. The mother country would take those raw materials and refine them (that means "make stuff"). Then, the mother country would sell those refined goods ("stuff") to other countries and the colonies. Basically, everyone makes money! Momma country gets rich and powerful, and colonies benefit from that power. So, what's the problem?
Well, as outlined in the Navigation Acts, Britain made it illegal for the colonies to sell their raw materials to any other nation. It was illegal for the colonies to purchase goods from any other country. It was even illegal for the colonies to have any manufacturing that competed with manufacturers in England (for example, the colonists were not allowed to make their own shovels because there were shovel makers in England). |