Economic Thought in Eighteenth CenturyAmerica Prior to Indepencence



Abstract. This paper examines the state of economic thought in the United States during the time period 1700 to 1775, an era that marks the end of the colonial age for the new nation.  This essay starts with an over view of economic conditions during the final phase of colonialism in America.  This is followed by a discussion of American economic thinking, divided into three distinct yet overlapping perspectives: (1) mainstream economic thought, which represents the dominant point of view about economics in America prior to the end of colonial status; (2) other voices, or economic perspectives focused on particular economic issues of the time and not the general state of economic thought; and (3) a crosscurrent or contrary view to mainstream economics, a way of viewing economics and economic thinking that takes exception to the popular economic paradigm of the time.

Keywords. Slavery, Compulsion, Libertarianism.

JEL. K29.

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