Midterm 2 Flashcards
Author and main idea of “The American Revolution”
Gordon Wood
Four principle factors leading up to the American revolution were
1. The growth and movement of population
2. Economic expansion
3. Reform of the British empire
4. Imperial Debate
How did the growth and movement of population promote the American revolution?
The rapidly growing British colonies (not just the north American colonies) were lacking in economic regulation with Britain as their growth soared, the European-style government system was not able to represent all the colonist (in colonial courts or in English courts) or keep up with the growth, and the American expansion led to violent outburst from American Indians.
How did economic expansion push the colonies towards the American Revolution?
American imports and exports were growing in demand exponentially, as was industrial production and colonial infrastructure. The fast growing powerhouse in the colonies did not fit within the British administrative arrangements so the colonies became increasingly independent economically.
How did reform of the British empire bolster the need for the American Revolution?
Britain was in need of a reform for a long time and George III did it hastily and impulsively which lost a lot of support. Britain had lots of war debt, couldn’t control Indian-American relations, or maintain proper trade policies. Huge increases in military control of the colonies also led to more debt. This led to George III seeking lots of money through the Sugar Act,Stamp Act, and other tax policies that outraged colonists
What is the Sugar Act?
Most importantly, it reduced the cost of imported sugar into the colonies in hopes that colonist would buy that sugar and make the crown more money rather than colonists producing their own sugar and making money that the crown didn’t see. It also put duties on other goods
What is the Stamp Act?
A tax placed on virtually every form of paper used in the colonies that had to be paid in British sterling and not colonial paper money.
What is the Currency act?
Britain prohibited the colonies from issuing paper money as legal tender
Why did Britain pass the currency act?
A great economic slump occurred between 1760 and 1764 as a result of British reformers’ actions. Many businesses failed and many bankruptcies occurred. It was Britain’s failed attempt to stabilize market conditions in the colonies
What is the Tea Act?
Only one company, the East India Company, could sell tea in America. They were selective in who they sold to which led to monopolies
What is the Imperial Debate talked about about by Wood?
The British empire did not have the best interest of the colonies nor did it represent their views. The legislature in Britain and the legislature in America could not coexist as unified.
What is virtual representation?
The idea that all British people are represented in the House of Commons because all British people have the same views and ideals
What are the Navigation Acts?
A series of British laws to regulate, monopolize, and profit from colonial trade
What is meant by saying the Parliament and king “doubled down”
The King and Parliament insisted that their authority be respected and that they colonist obey their taxes.
The British repealed all taxes except those on tea, sent soldiers to enforce the tax, and ended up upsetting the colonists resulting in the Boston massacre
What was the continental congress?
The group that elected to write a declaration of independence
What text is largely used as a source when writing the declaration of independence?
John Locke’s “Second Treatise”
What is salutary neglect?
British policy from the late 1600s to the mid-1700s that allowed the American colonies to be largely self-governing
In a pragmatic view, what was the goal of the colonists in dissociating themselves from Britain?
They wanted to return to the way of life they had before during the period of salutory neglect. They wanted to keep what they had (Romer’s rule)
Author and goal of “The Virginia Plan”
James Madison writing his attempt at a constitution. His plan includes giving the federal government more power so that minorities don’t end up ruling majorities.
Who wrote the Federalist papers?
James Madison
“But what is government itself but the greatest of all reflections on ________?”
Human Nature
What were the articles of confederation?
Benjamin Franklin’s attempt at designing a government for the new nation.
What were the two weakness of the articles of confederation?
They saw the government as the ultimate restriction of liberty, so the government had almost no power. Not for taxes, enforcing laws, armies, etc. The national government was too weak.
The organization of state governments. They are lacking virtue (buying votes)
republicanism (little r)
We vote for representatives
People are self-governed
Helps supress riots
What did Madison borrow from the European intellectuals Hirschman mentioned?
Unleashing a passion within an institutional design could result in a virtuous system. Madison believed this passion would be ambition (love of power). “Ambition must be made to counteract ambition”
What is the story of crabs about?
If you collect crabs in a bucket, you need to make sure the first crab doesn’t escape. But once there is a second crab, it will always pull the second one down before it escapes. They check each other. This is the idea of ambition driving a government.
What is the tyranny of the majority?
Factions of people putting their own agendas first and depriving the minorities of their rights and privelages
What did Madison see as a solution to the problem of factions?
An extensive republic. There will be so many factions that there will not be a majority at a federal level.
Author and main idea of “A Conflict of Interests”
Frank Fox and Clayne Pope
- The advantages of a market economy over a mercantilism.
- The characteristics and essential functions of a market economy
- The government’s role in both economies
- The ties of market economy to the government system established by the founding fathers
What is mercantilism?
A command system of economic organization in which government controls prices, wages, and the allocation of resources rather than allowing them to be directed by free-market forces.
Is a free market meant to benefit the seller or the buyer in an exchange?
They are both meant to benefit in exchange.
What is meant by the term “perfect competition?”
The best economic outcomes occur when power has been dispersed so widely that no buyers or sellers believe they have an influence on the price or terms of exchange
What is the goal of mercantilism?
As much money as possible for the mother country. Get those in power (government) rich. More exports than imports to increase “wealth”
Why couldn’t the colonies tax England for products exported to the British isles from the colonies?
The ideal of mercantilism was to keep the wealth with the mother country so England did not allow the colonies to tax.
What are the goals of a market economy?
Both the buyer and the seller benefit from exchange. The economy is led by self-interest and not by government regulations
Define the law of demand
As the price of a good increases, fewer people are willing to buy that good
Define the law of supply
As the supply goes down, the price goes up
Define Equilibrium price
The price at which the number of people willing to supply the good is the same as the number of people willing to buy the good
Define the role of prices
Prices signal how much to produce/consume
Define rule of profits
When profits are made in a market, that incentivizes more competitors to enter the market
What is Adam Smith’s definition of wealth?
It is stuff: food, clothing, tools, and anything else that makes life more comfortable.
Not the treasury of wealth, but rather what a nation can produce and consume in one year
What concept is taught through the example of a pin factory?
Specialization or division of labor
What is required for a division of labor in a society?
Extensive patterns of exchange: money!
What is opportunity cost?
The cost of the next best alternative
What is comparative advantage?
Every individual, group, or nation can provide at least one good or service at a lower opportunity cost than others. Whoever has the lowest opportunity cost of producing a good has the comparative advantage
Does Adam Smith agree with John Locke?
Yes
Author and main idea of “The Bill of Rights”
Akhil Reed Amar
The author dives into the first proposed ammendments of the consitution and their motivations. The main drive was maintining a democracy that did not supress minority voices or give power to the government that belonged to the people.
What is the idea of “skimming cream” as explained by Amar?
Choosing representatives from a people is like taking the richest cream that sits on the top layer of a bucket of milk
Why was James Madison opposed to “assembly for instruction” of representatives?
He saw this as getting rid of the cream. This forced the representatives to be bound by his uninformed constituents rather than be enlightened by his own conscious and full discussions with other representatives from around the country.
Who wrote the federalists Papers and what was their penname?
Alexander Hamilton, James Madison, John Jay
Penname “Publius”
What was the point of the Federalists Papers?
Responding to anit-federalists in defense of the constitution
