The Enlightenment was an important time in the 17th and 18th centuries. It brought about new ideas that changed many parts of life, including how people did business in colonial America.
At its heart, the Enlightenment focused on using reason (or logic), valuing individual ideas, and looking for facts rather than just following tradition. This way of thinking changed how people viewed and practiced economics.
Here’s how these ideas influenced economics:
Smart Economic Practices: Thinkers like Adam Smith talked about free trade and capitalism. In his important book, "The Wealth of Nations," published in 1776, Adams explained the idea of the "invisible hand" of the market. This means that when individuals act in their own best interests, they can actually help everyone else too. This new way of thinking encouraged colonial traders to be more competitive and efficient in their businesses.
Farming Improvements: The Enlightenment didn’t only change business; it also made a big difference in farming. Colonists started using scientific methods to grow better crops. For example, they used techniques like crop rotation and selective breeding, which were inspired by new ideas about observing and experimenting. Moving from basic farming to more specialized practices helped farmers produce more food. Those who adapted to these new methods often found greater success.
Revisiting Mercantilism: Before the Enlightenment, the main economic idea was mercantilism, which viewed colonies as sources of raw materials for the main country. However, Enlightenment ideas encouraged colonists to seek more economic independence and look for new markets. This desire for freedom in business helped spark feelings that would lead to the Revolution.
Sharing Knowledge: During this time, groups like libraries and societies were created to share scientific knowledge, such as the American Philosophical Society. These places spread helpful information among colonists, leading to a community focused on economic progress. They also helped build a sense of identity and connection among the colonies as they worked together to improve their techniques.
In short, the Enlightenment changed colonial economic practices by promoting reason, advancing farming, rethinking mercantilism, and encouraging collaboration. These new ideas played a key role in shaping the economy of colonial America, helping people prepare for future independence and growth.
The Enlightenment was an important time in the 17th and 18th centuries. It brought about new ideas that changed many parts of life, including how people did business in colonial America.
At its heart, the Enlightenment focused on using reason (or logic), valuing individual ideas, and looking for facts rather than just following tradition. This way of thinking changed how people viewed and practiced economics.
Here’s how these ideas influenced economics:
Smart Economic Practices: Thinkers like Adam Smith talked about free trade and capitalism. In his important book, "The Wealth of Nations," published in 1776, Adams explained the idea of the "invisible hand" of the market. This means that when individuals act in their own best interests, they can actually help everyone else too. This new way of thinking encouraged colonial traders to be more competitive and efficient in their businesses.
Farming Improvements: The Enlightenment didn’t only change business; it also made a big difference in farming. Colonists started using scientific methods to grow better crops. For example, they used techniques like crop rotation and selective breeding, which were inspired by new ideas about observing and experimenting. Moving from basic farming to more specialized practices helped farmers produce more food. Those who adapted to these new methods often found greater success.
Revisiting Mercantilism: Before the Enlightenment, the main economic idea was mercantilism, which viewed colonies as sources of raw materials for the main country. However, Enlightenment ideas encouraged colonists to seek more economic independence and look for new markets. This desire for freedom in business helped spark feelings that would lead to the Revolution.
Sharing Knowledge: During this time, groups like libraries and societies were created to share scientific knowledge, such as the American Philosophical Society. These places spread helpful information among colonists, leading to a community focused on economic progress. They also helped build a sense of identity and connection among the colonies as they worked together to improve their techniques.
In short, the Enlightenment changed colonial economic practices by promoting reason, advancing farming, rethinking mercantilism, and encouraging collaboration. These new ideas played a key role in shaping the economy of colonial America, helping people prepare for future independence and growth.