The economic rifts between England and the colonists between 1607 and 1775 led to a major changes in the economic identity of Americans, as America began to favor a new economic ideology: capitalism. This new economic theory thrived in America, and centered around the concept that a country 's trade and industry were controlled only by private owners for profit. Between 1607 and 1696, England exhibited salutary neglect, the notion that England gave the colonies the chance to flourish economically with little to no restrictions by British laws and Parliament. This was due to England lacking any incentive to strictly control the trade in its colonies as they were flourishing without the regulations and restrictions of England, yet remained entrenched in Mercantilist economics that benefitted England. Mercantilism was an economic ideology adopted by England that stated the colonies should be a source of profit for the mother nation as both a new market for English goods and a source of raw materials. This led to American colonists having their first experiences as a “sovereign nation”, as the colonists were allowed to govern economic policies by themselves for the first time. Between …show more content…
This American identity has had a great influence on world politics and affairs, as over the years immigrants from different parts of the world have allowed America’s identity to evolve and become more diverse and inclusive. Even though the American identity has evolved with the times, some ideals like America’s love of freedom and liberty have not gone away and likely never will. Similar to 17th and 18th century immigrants, today 's immigrants flock to America looking for religious tolerance, economic opportunity, and