Economics Working Papers Economics 2-27-2018 The oloniC al American Economy Joshua L. Rosenbloom Iowa State University,
[email protected] Follow this and additional works at: https://lib.dr.iastate.edu/econ_ag_workingpapers Part of the Economic History Commons, Growth and Development Commons, Income Distribution Commons, Industrial Organization Commons, and the Labor Economics Commons Recommended Citation Rosenbloom, Joshua L., "The oC lonial American Economy" (2018). Economics Working Papers: Department of Economics, Iowa State University. 18002. https://lib.dr.iastate.edu/econ_ag_workingpapers/1 Iowa State University does not discriminate on the basis of race, color, age, ethnicity, religion, national origin, pregnancy, sexual orientation, gender identity, genetic information, sex, marital status, disability, or status as a U.S. veteran. Inquiries regarding non-discrimination policies may be directed to Office of Equal Opportunity, 3350 Beardshear Hall, 515 Morrill Road, Ames, Iowa 50011, Tel. 515 294-7612, Hotline: 515-294-1222, email
[email protected]. This Working Paper is brought to you for free and open access by the Iowa State University Digital Repository. For more information, please visit lib.dr.iastate.edu. The oloniC al American Economy Abstract The first permanent British settlement in what became the United States was established in 1607, nearly 170 years prior to the American declaration of independence. This chapter examines the economic development of the British North American colonies that became the United States. As it describes, abundant natural resources and scarce labor and capital contributed to the remarkable growth in the size of the colonial economy, and allowed the free white colonial population to enjoy a relatively high standard of living.