I'm positive it was the Declaratory Act of 1766.
<u>Renaissance definition:</u>
- <em>"the revival of art and literature under the influence of classical models in the 14th–16th centuries"</em>
- <em>"a revival of or renewed interest in something renaissance.</em>
I would not call the tech of today a renaissance because the renaissance was something ancient from about 60 centuries before we were born and I believe that simply thinking that technology or iPhones or an iPad could be called a reaissance, is an insult to the people of the Middle Ages.
In the 1970s, the supply of gas was affected by price controls imposed by the Nixon administration and then by an oil embargo by Arab members of the Organization of Petroleum Exporting Countries (OPEC).
As a political move aimed at pleasing voters, President Richard Nixon announced in 1971 (prior to his reelection campaign of 1972), "I am today ordering a freeze on all prices and wages throughout the United States.” The wage and price controls the Nixon administration sought to put in place interfered with natural market forces and oil supplies were reduced. That problem was magnified in 1973 when oil exporting countries in the Arab world imposed an embargo on supplies to the United States due to US support of Israel in a war that Israel was fighting against a coalition of Arab states.
Both factors -- lingering efforts at price controls and continued control of the oil and gas market by OPEC nations -- played into the long lines at gas pumps seen in America in the 1970s.
The answer to your question is mercantilism. After the Renaissance, mercantilism was the economic policy of the new nations. This economic system was widely used in Europe in the fifteen hundreds and sixteen hundreds which favored equal trading of imports and exports. The national wealth was measured based by the amount of gold and silver.
