Social, Economic, and Political Turning Points Lesson 1.2: Economic Change

Focus What did you learn about social change? How are Bacon’s Rebellion, the Great Awakening, and the Abolition Movement examples of social change?

Essential Question How did economic change impact early American history?

Activating What are some words that you think of when you hear the word “economy? What do you think the phrase “economic turning point” refers too? What do you think are examples of Economic Turning Points?

Key Vocabulary: Economic Turning Point

Economic Change Economy: the process or system by which goods and services are produced, sold, and bought in a country or region. Economic Change: ... a transformation that occurs within an economy that either increases, sustains, or depletes its vitality. Let’s take a look at 3 examples of economic turning points in American History: Mercantilism Boston Tea Party Sharecropping

Mercantilism

Mercantilism What is it? Mercantilism is the economic doctrine that government control of foreign trade is of paramount importance for ensuring the military security of the country. In particular, it demands a positive balance of trade. In other words, in order to be considered a powerful nation, it was necessary to export more than import. Think of balancing a check book. You don’t want to write a check for more money than you have in your account. The goal is too make more money than you spend…..so that the amount of money that you have will continue to grow!!!!

Mercantilism developed at a time of transition for the European economy. Isolated feudal estates were being replaced by centralized nation-states as the focus of power. Technological changes in shipping and the growth of urban centers led to a rapid increase in international trade. Over time, competition between nation-states led to the need for strong navies backed by a strong economy. This led to the Triangular Trade involving a three way system of goods between Europe, the Americas, and Africa that was good for the economies and societies of Europe and the colonies. Also led to the strengthening of imperialistic policies, slavery, and the eradication of native peoples.

Assessment Prompt 1 Watch the following video and complete the “Five Amazing Facts” graphic organizer. https://www.youtube.com/watch?v=nO2vAY0NYpk

The Boston Tea Party

Boston Tea Party On December 17th, 1773, in response to the Tea Act passed by the British Parliament, approximately 150 American colonists snuck onto British ships anchored in Boston Harbor and dumped 342 chests of Tea into the harbor as several thousand Bostonians on shore cheered. The colonists did this in response to their demand for representation in the British Parliament being rejected. “No taxation without representation,” became the slogan associated with the movement. Simply put, the colonists wanted to have a voice in the government that they were living under.

The Boston Tea Party is seen as one of the leading causes of the American Revolution. The American people demanded a government that would protect their natural rights of “life, liberty, and the pursuit on happiness.” http://www.history.com/topics/american-revolution/boston-tea-party

Assessment Prompt 2: Causes and Effects of the Boston Tea Party

Sharecropping

Sharecropping After the Civil War, the emancipation of slaves lead to a collapse of the southern economy. However, former slaves never achieved full equality in the south and were forced to labor in difficult circumstance, similar to the pre-Civil War era in which slavery was the back bone of the southern economy. Sharecroppers did not pay their rent in cash. Instead, they paid a share of their crops, often as much as 2/3rds, to the land owner (former slave plantation owner).

Sharecropping arose when Reconstruction (1865-1877) failed to achieve true equality for African Americans. So called “Jim Crow” laws were put into effect to essentially keep the African American in a condition similar to slavery in order to maintain southern society and the economy. This resulted inequality, segregation, and racism that would continue to plague our nation for decades. The Civil Rights movement of the 1950’s and 60’s was a major social movement that paved the way for our modern society. http://www.history.com/topics/black-history/sharecropping

Assessment Prompt 3: Sharecropping

Assignment Categorize the information presented today into a Web Diagram.

Journal Respond in your journal the following questions: What did you learn today about economic change? How does mercantilism, the Boston Tea Party, and sharecroppers relate to economic change? What are some of the common factors that lead to economic change?