Initially, from 1607-1608, the Jamestown settlement lived under socialism, whereby the group shared its food with everyone no matter how much or little he worked. This economic system was a complete failure as no one had any incentive to do any work.{{fact}} In September 1608, John Smith was elected president of the governing council. He ruled for a year and installed a conservative economic system: "don't work, don't eat!" Under this new system, food production increased and by 1614 there was plenty to eat. | Initially, from 1607-1608, the Jamestown settlement lived under socialism, whereby the group shared its food with everyone no matter how much or little he worked. This economic system was a complete failure as no one had any incentive to do any work.{{fact}} In September 1608, John Smith was elected president of the governing council. He ruled for a year and installed a conservative economic system: "don't work, don't eat!" Under this new system, food production increased and by 1614 there was plenty to eat. |