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      • Between 1774 and 1789, the American economy (GDP per capita) shrank by close to 30 percent. Devastation of real property, a contraction of the labor force due to war deaths and injuries, the cessation of British credit, and exclusion from markets in Britain and West Indies resulted in widespread economic collapse.
      www.mountvernon.org › george-washington › colonial-life-today

      Ten Facts About the Early American Economy · George ...

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  3. www.mountvernon.org › george-washington › colonialTen Facts About the Early American Economy · George ...

    According to historian Alice Hansen Jones, Americans at the end of the colonial era averaged an annual income of £13.85, which was the highest in the western world. American per capita incomes compared to an average of £10-12 in the British homeland and even lower in France.

  4. www.americanhistorycentral.com › entries › colonialColonial America, Facts, Phases, Characteristics, APUSH

    Feb 10, 2024 · The economy during the Colonial Era was shaped by: Geography — including the distance between settlements and differences in terrain, climate, and natural resources. British economic systems and policies — controlled trade between the settlements, trade with Native American Indian tribes, and foreign nations.

  5. oxfordre.com › economics › displayEconomic History of the United States: Precolonial and ...

    Throughout the colonial period, the economy of North America remained rural. As late as 1790 , the time of the first census of the United States, over 90% of the population inhabited farms or small rural communities.

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  7. guides.loc.gov › colonial-america-business-researchColonies in America: Commerce, Business, and the Economy

    Apr 16, 2024 · Colonies in America: Commerce, Business, and the Economy. A guide for researchers interested in studying commerce and business during the Colonial period in the British, French, and Spanish colonies.

  8. www.cliffsnotes.com › colonial-society-and-economyColonial Society and Economy - CliffsNotes

    Economic recessions were common in the colonies during the eighteenth century, and they affected workers in the cities most. When the supply of labor outstripped demand, wages fell and the level of unemployment rose. By and large, women in the colonies assumed traditional roles; they took care of their home and brought up their children.

  9. www.khanacademy.org › humanities › us-historyThe Columbian Exchange (article) | Khan Academy

    As Europeans expanded their market reach into the colonial sphere, they devised a new economic policy to ensure the colonies’ profitability. The philosophy of mercantilism shaped European perceptions of wealth from the 1500s to the late 1700s. Mercantilism held that only a limited amount of wealth, as measured in gold and silver bullion ...

  10. www.encyclopedia.com › history › encyclopediasSettlement and Economic Development: The Colonies to 1763 ...

    Most historians agree that the colonial economy grew slowly but steadily during the first half of the eighteenth century, stimulating a corresponding rise in the volume of imported British goods. After 1740, however, the volume of cheap British imports to the colonies began an exponential rise in what some historians have termed an Anglo ...

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