In what ways did the New England economy differ from the Chesapeake economy?

Answer 1

Based on loose study, in New England the wealth, though not usually as great, was dispersed more evenly and the use indentured labor not as great which was one of the primary reasons for this. The Chesapeake was about trade, plantations and agriculture, and in New England, although there was a very sure importance placed on economic stability and prosperity, it was more important to be a participant in the religious activities and structure of the community. That is why in New England the center of the economy was the stability of the community rather than building a trade empire, and most of the goods that were used for trade were surplus supplies. so in New England 1: Less indentured servitude (and probably less slaves) 2: More emphasis on the well being of individuals. (Most people were okay, even if not very wealthy) 3: In Chesapeake, because of the indentured servitude and slavery, and because the purpose of the colonization was to find and exploit the means of wealth in those times( global trade) there was a much more diverse group of individuals, very poor and very wealthy. I hope this gives you an IDEA of what was happening.

Answer 2

Chesapeake's main industry was tobacco and South Carolina was cotton. Cotton to be profiable needed lots of land and cheap labor. while chesapeake region and the tobacco industry couldn't sustain large amounts of land and (cause you needed to dry it later in barns) and not much labor needed