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"not only produced primary commodities for british industry, but concentr..."
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"not only produced primary commodities for british industry, but concentrated ALL their resources on producing primary commodities because this would be more efficient. meaning that while britain could no longer outlaw manufacturing, it could try to convince the colonies to produce just primary commodities because everyone would benefit from the efficiency."
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"i know the colonial system existed before free trade. the colonial syst..."
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"i know the colonial system existed before free trade. the colonial system was where the colonies produced the primary commodities that were inputs into the industrial goods produced in the mother country. manufacturing was outlawed in the colonies. free trade merely justified this by saying if former colonies just produced the primary commodities that fed britain's manufacturing industry and traded it for british indutrial goods, everyone would benefit."
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"comparative advantage and the theory of free trade laid the theoretical ..."
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"comparative advantage and the theory of free trade laid the theoretical framework which justified the colonial system."
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"it wasn't perfect because it was purely for britain's benefit. britain ..."
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"it wasn't perfect because it was purely for britain's benefit. britain had used highly protectionist policies during the industrial revolution. then, when it no longer suited them to use protectionist policies, they preached to the rest of the world that protectionist policies were bad. if you are the top producer in increasing returns activities, it makes sense to tell other countries that you will be the one who produces produces industrial goods while others should produce raw materials."
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"i've already laid out what i mean by quality economic activities. paul ..."
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"i've already laid out what i mean by quality economic activities. paul romer has a pretty good description of it in his "new growth theory"."
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