A Tangent on Tobacco – A Legacy in American Economics: Part 2

Tobacco sprouted up throughout Virginia, and became so influential that when the Virginia Colony’s General Assembly first met to establish a sort of self-governed representative legislation, the first law to pass was regarding the economics of the tobacco trade. Often called “country money,” tobacco was established as currency throughout Virginia, …

We Want Wampum

“No complaint… is more common than that of a scarcity of money.” – Adam Smith When the settlers in the New World weren’t slaughtering natives to increase economic expansion by assuming control of their land, they were learning new ways of expanding their economy. Wampum was one such lesson. “Modern …