Originally published in 1972, this study is of the North American
colonial economy from the middle of the seventeenth century to the
American Revolution, with emphasis on the later years. The authors
use quantitative analysis to prove that productivity was increasing
not so much because of technological change, but rather because of
improvements in market organization and reduced risks of business
enterprise within markets. In the first part of the book the
authors present a theoretical framework for examining the general
aspects of long-term economic development in the colonies. In the
second part they discuss shipping and overseas trade in detail.
They examine costs of shipping and distribution; sources of
productivity change; commodity trade with overseas markets; and
finally a number of other influences on the colonial balance of
frameworks. Several statistical appendices supporting the authors'
argument follow the text.
General
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