Chapter Outline Chapter 17: Europe and the New World Economy, 1400–1650 ©2006, Pearson Education, Inc. Brummett, et al, Civilization, Past & Present I. Capitalism II. Absolutism: Louis XIV III. The Gravitational Pull of French Absolutism IV. Holland and England V. Breaking the Bank: Diplomacy and War, 1650–1774 VI. Louis XV and the Decline of Absolutism, 1715–1774

Brummett, et al, Civilization, Past & Present, Part One; Classical Origins Chapter 17: Europe and the New World Economy, 1400–1650 ©2006, Pearson Education, Inc. I. Capitalism A. Expanding Capitalism Banks Fuggers, Augsburg Bank of Amsterdam, 1609 Bank of England, 1694 Joint-stock Companies East India Companies (English, Dutch, French) Austria, Prussia

Brummett, et al, Civilization, Past & Present, Part One; Classical Origins Chapter 17: Europe and the New World Economy, 1400–1650 ©2006, Pearson Education, Inc. I. Capitalism B. Free Enterprise Capitalistic agriculture Jethro Tull (1674–1741) Charles Townshend (1674–1738) Robert Bakewell (1725–95) Arthur Young (1741–1820) Enclosure Act 1750–1800 — 40–50,000 small farms lost Domestic System from 1500 Lloyds of London, 1688 Stock Exchanges London, 1698 Bourse, Paris, 1724

Brummett, et al, Civilization, Past & Present, Part One; Classical Origins Chapter 17: Europe and the New World Economy, 1400–1650 ©2006, Pearson Education, Inc. I. Capitalism C. Social Crises Privileged Classes First and Second Estates, France less than 2% Peasants, 80% French Third Estate diverse D. Protests, Riots, Rebellions 1700s— 73 peasant rebellions Russia, Pugachev revolt, 1773– Europe England59 France2128 Russia1736 Italy1119

Brummett, et al, Civilization, Past & Present, Part One; Classical Origins Chapter 17: Europe and the New World Economy, 1400–1650 ©2006, Pearson Education, Inc. II. Absolutism: Louis XIV A. Foundations of Absolutism Jacques Bossuet Thomas Hobbes (1588–1679) Leviathan Louis XIII Marie de’ Medici Louis XIV (1643–1715) Cardinal Richelieu (1585–1642) Cardinal Mazarin (1602–1661) The Fronde (1649–1653) B. The Mechanics of French Absolutism Versailles Mercantilism Jean-Baptiste Colbert (1619–83) Bullionism

Brummett, et al, Civilization, Past & Present, Part One; Classical Origins Chapter 17: Europe and the New World Economy, 1400–1650 ©2006, Pearson Education, Inc. III. The Gravitational Pull of French Absolutism A. The Germanic Satellites Sovereign states B. Scandinavia Frederick III (1648–70), Denmark Charles XI (1660–97), Sweden C. Iberia Weak monarchies Alfonso VI (1656–68), Portugal Charles II (1665–1700, Spain Portugal Pedro II (1683–1706) John V (1706–50) Spain Philip V (1700–46)

Brummett, et al, Civilization, Past & Present, Part One; Classical Origins Chapter 17: Europe and the New World Economy, 1400–1650 ©2006, Pearson Education, Inc. III. The Gravitational Pull of French Absolutism D. Habsburgs Leopold I (1657–1705) Maria Theresa (1740–80) Count Haugwitz, Minister E. Poland: The Last Medieval State F. Prussia Hohenzollerns Frederick William (1640–88) Frederick I (1688–1713) Frederick William I (1713–40) General Directory civil service supreme court nobles taxed Frederick II (1740–86) G. Russian Autocracy Peter I (1682–1725)

Brummett, et al, Civilization, Past & Present, Part One; Classical Origins Chapter 17: Europe and the New World Economy, 1400–1650 ©2006, Pearson Education, Inc. G. Russian Autocracy Peter I (1682–1725)

Brummett, et al, Civilization, Past & Present, Part One; Classical Origins Chapter 17: Europe and the New World Economy, 1400–1650 ©2006, Pearson Education, Inc. IV. Holland and England A. The Dutch Experiment John Oldenbarnveldt (1547–1619) B. The English Debate (1603–88) James I (1603–25) 1628— Petition of Right 1629–40 — no Parliament 1640 — “Short Parliament” “Long Parliament” — 20 years C. Civil War Parliament v. Royalists Oliver Cromwell (1599–1658) 1646 — Charles king 1648— executed Levellers — outlawed “Rump Parliament” Cromwell, Lord Protector Institute of Government, 1653 D. Restoration and the “Glorious Revolution” Charles II (1660–85) James II (1685–88), Catholic crown to Mary Stuart, William of Orange = “Glorious Revolution” Bill of Rights E. Whigs and Tories Hanoverians George I (1714–27) George II (1727–60) Robert Walpole First Prime Minister George III (1760–1820) Tories (conservatives) George Grenville (1712–70) minister

Brummett, et al, Civilization, Past & Present, Part One; Classical Origins Chapter 17: Europe and the New World Economy, 1400–1650 ©2006, Pearson Education, Inc. V. Breaking the Bank: Diplomacy and War, 1650–1774 A. Westphalia to Utrecht: The Dominance of France Great Northern War (1709–21) Russia v. Sweden War of the Spanish Succession (1701–13) Role of Women Sarah Churchill Mary of Modena Madame de Maintenon Princess des Ursins Treaty of Utrecht (1713) Philip V, King of Spain

Brummett, et al, Civilization, Past & Present, Part One; Classical Origins Chapter 17: Europe and the New World Economy, 1400–1650 ©2006, Pearson Education, Inc. V. Breaking the Bank: Diplomacy and War B. From Utrecht to Paris: An Unstable Balance 1739—1748— “War of Jenkins’s Ear” Peace of Aix-la-Chapelle, –1763— Seven Years’ War Peace of Paris, 1763 France loses North American lands C. Economic Challenges Mercantilism smugglers often 50%+ of imports Crisis of Public Finance Britain, state debt 13 m pounds

Brummett, et al, Civilization, Past & Present, Part One; Classical Origins Chapter 17: Europe and the New World Economy, 1400–1650 ©2006, Pearson Education, Inc. VI. Louis XV and the Decline of Absolutism, 1715–1774 Louis XV (1715–74) Cardinal Fleur, minister Madame de Pompadour Jeanne-Antoinette Poisson Debt interest: 50%+ of income