... to levy heavier duties on the American colonies. American colonists felt oppressed by these taxes, which are considered to be one of the causes of the American Revolution (1775-1783). In the 18th century a reaction to mercantilism began, and the philosophy of free trade started to take root. Economists, particularly British economist Adam Smith, argued against government regulation ... of the economy. Smith asserted that trade with a colony was no more profitable than with an independent country. He argued that political strategy might justify ... and a Continental Congress directed th...

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• Approx Pages: 12