1450 1750 map & commerce intro 2
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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 . . .
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