I don’t understand your point about 19th century economics vs. 21st century economics. The laws of economics don’t change. If you mean their understanding of economics wasn’t as good as ours it today then I would disagree. I think public figures had a much better understanding of economic principles then than our beloved senators do today. Besides, southerners knew when their income was going up or down and it always went down when there was a tariff.
They do to a certain extent depending on how evolved the economy is.
Besides, southerners knew when their income was going up or down and it always went down when there was a tariff.
Again, complete nonsense. There had been a tariff of one form or another almost from the first days of the Republic. There was certainly a tariff in place in the 10 years prior to the rebellion and their income have gone up and up and up. Cotton prices rose steadily. Imports increased almost every year.