Political Economy of the American Revolution – Book Report/Review Example
The paper "Political Economy of the American Revolution" is a wonderful example of a book review on macro and microeconomics.
The chapter proves to be very educative as it gives the reader finer details on state and changes in political economy during the colonial and revolution period. It helps an individual understand how trade was being carried out with the rules and regulations set by the British that ensured within its colonies favored the British economy. The chapter goes further diagrammatically to explain the economic strategies used by the colonialist to ensure trade outside the British Empire is discouraged at all cost enabling them to maximize profit from most of the products. For example, the vivid demand and supply curve that shows how they orchestrated their business strategies to maximize profit and discouraged trade with other parts that were not their colonies by increasing product expense by more than 100%. It also gives an idea of the strategies the colonialists used to ensure they remained in control of the trade of the valuable farm products such as tobacco.
Did the revolutionary war affect trade? Reading through the revolution part one gets to understand that trade was not affected that much by the war. It further explains how the colonialists secured the harbor to ensure export of product high in demand such as tobacco and turpentine was maintained. However, the armies were affected by the revolution as it reached a point the lacked basic needs such as clothing and shelter.
Monopolization of the market is one of the things portrayed clearly in the reading. The colonialists took the necessary measures to ensure that they dominate the tobacco market by adopting some legislation (THE AMERICAN REVOLUTION 60). High-quality tobacco products came from the colonies that allowed them to have a word on market policies and prices thus maximizing profit. One of the critical observations is about the benefits that the colonies got from the production and business with other countries under the colonialists. It is seen after the war as they are more organized and have something to offer in the European market for economic improvement.