Bulls, Bears, Boom, and Bust: A Historical Encyclopedia of by John M. Dobson

By John M. Dobson

Bulls, Bears, increase, and Bust: A ancient Encyclopedia of yank enterprise strategies interprets the language of commercial in an enticing, compelling manner. From mercantilism to microchips, indentured servants to enterprise capitalists, William Penn to invoice Gates, this different lexicon presents normal readers with an obtainable creation to the vernacular of the yank enterprise group, whereas delivering enterprise execs with a convenient source for fast authoritative answers.

Divided into 5 chronological sections, Bulls, Bears, increase, and Bust levels from colonial instances to the current, charting the dramatic historical past of industrial thoughts and associations within the usa. It comprises over two hundred topical entries that outline business-related phrases and clarify their relevance to American enterprise and fiscal heritage. moreover, every one part offers information regarding the folk at the back of the signature advancements in American company (innovative thinkers and marketers, namesakes of commonly used businesses, key political figures).

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Extra info for Bulls, Bears, Boom, and Bust: A Historical Encyclopedia of American Business Concepts

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It prohibited people in one colony from selling finished woolen cloth to customers outside of that colony. All imported woolen goods had to come from English spinners and weavers, who thus enjoyed a protected market for their output. The Woolen Act was the first of several manufacturing acts that limited colonial production of processed or manufactured goods that might compete with those produced in the British Isles. Through the first half of the eighteenth century, the North American colonies fit comfortably within the British mercantile empire.

Subsequent legislation added naval stores, rice, molasses, beaver pelts, copper, and even whale fins to the list of goods. Recognizing that trade was a two-way proposition, Parliament passed the so-called Staple Act in 1663. It ordered that goods shipped to the colonies from any source must be transported on English vessels. Moreover, with a few minor exceptions like salt from Spain for the New England fisheries and wine from the Azores, all colony-bound goods had to be transshipped through ports in the British Isles.

Evasion of the Navigation Acts began immediately. A popular tactic to avoid the 1660 fleet rules was to ship cargo from one colony to another colonial port instead of to England. The goods were then transshipped to non-English ports in Europe. In 1673, Parliament attempted to close that loophole by imposing a plantation duty. This tax was collected in colonial ports to offset the lost port fees and associated revenue from ships that failed to stop in England proper. To enforce this law, English customs collectors were stationed in colonial ports, an unpopular move, but one that had relatively little impact at that point.

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