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- Title
The New Economic History, the Navigation Acts, and the Continental Tobacco Market, 1770-90.
- Authors
Broeze, Frank J. A.
- Abstract
This article discusses the Navigation Acts laid upon the North American colonies in the decade preceding the outbreak of the Revolution and continental tobacco market in the eighteenth century. The counterfactual situation proposed is that in 1770 no laws influenced the flow of goods from the U.S. to the prospective markets. Tobacco could have been shipped directly to continental ports. A decrease in transportation costs would have resulted in bigger sales which per unit would have brought higher incomes to the suppliers, presumably growers and merchants alike. It is assumed that the continental tobacco market theoretically can be represented by an equilibrium model which is based on unitary elasticity. The two poles of this framework are the markets of Philadelphia and Amsterdam, thought to be representative for the situation on both sides of the Atlantic. Assuming the ratio of prices in Philadelphia and Amsterdam to have been roughly the same in 1790 and in the counterfactual situation of 1770, the counterfactual Amsterdam price and quantity sold can be estimated.
- Subjects
PHILADELPHIA (Pa.); AMSTERDAM (Netherlands); PENNSYLVANIA; NETHERLANDS; ECONOMIC history; TRANSPORTATION policy; NAVIGATION acts, 1649-1696; DISTRIBUTORS (Commerce); SUPPLY chains; HARBORS
- Publication
Economic History Review, 1973, Vol 26, Issue 4, p668
- ISSN
0013-0117
- Publication type
Article
- DOI
10.1111/j.1468-0289.1973.tb01960.x