Assignment task:
Explain the economic transition from one system to another, discussing the impact on the societies affected using one of the examples/sections;
Section I sketches the differences between two rival forms of political economy, one focused on re-exports and one focused on manufacturing, that were closely tied to the two political parties, the Tories and Whigs.
Section II illustrates how Whigs applied the ideas of a political economy of manufacturing to the problem of the Scottish, especially Highland, economy in the 1720s.
Section III does the same for the Tories and a political economy of re-exporting through an examination of negotiations for a Treaty of Commerce with France at the end of the War of the Spanish Succession in 1713.
Section IV explores the broader appeal of rival political economies in the debate over ratification of this treaty. Section V uses two case studies of economic regulation in the 1720s and 1730s-the ban on printed calico enacted by Parliament in 1720 and the Molasses Act of 1733-to argue that the importance of a political economy of re-exporting declined over time, coinciding with the Whig consolidation of power.
Please provide sources/citations