Empires and Commerce

1450-1750

Economic Motives

Colonization! The Commercial Revolution-16th and 17th Century Europe

Mercantilism◦ An economic policy

under which nations sought to increase their wealth and power by obtaining large amounts of gold and silver and by selling more goods than they bought.

◦ The goal was self-sufficiency

Capitalism◦ An economic system

based on private (not govt.) ownership and the investment of wealth for profit.

◦ Wealthy merchants reinvested their profits into new ventures

◦ A key role in the Industrial Revolution

Portuguese Empire 1600s

Spanish Empire 1600s

Pool wealth for a common purpose 1500s and 1600s common purpose was

colonization Profits and risks were high If there was failure the risk was spread out Dutch (Indonesia) and British (India)-

received charters from the govt. granting trading monopolies and the power to make war and govern conquered people

Joint Stock Companies-Private

Dutch East India Company

Japanese Act of Seclusion 1636

Increase in economic activity leads to increase in $ supply.

Inflation-steady rise in the price of goods Occurs when people have more money to

spend and demand more goods and services

Goods become scarce and more valuable and prices rise

Inflation

Oceans- Atlantic, Indian, & PacificSeas- Mediterranean, Caribbean, & Black

Empires- Label each separately…◦Ottoman (647) & Mughal (645)◦Russian (682)◦British, French, Portuguese, Dutch (the Netherlands) & Spanish (682)

◦Qing (Strayer p644)

Make a map that has . . .