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Published byAndrea Goodwin Modified over 9 years ago
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THE COMMERCIAL REVOLUTION 1500- 1700 roots in the middle ages population growth “price revolution” states sought to increase economic power rise in capitalism entrepreneurs emerging capitalism = private property, profits, free enterprise
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The Price Revolution = inflation Prices go up -> wages don’t go up as fast -> greater profits for businesses profits = money made minus costs THE MONEYLENDER AND HIS WIFE WINE MERCHANTS
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New type of economic thinking beginning in the 17 th century – 1. BULLIONISM = countries should stockpile gold and silver 2. Export more than you import 3. Protect and stimulate your country’s export industries 4. High tariffs = taxes on imports 5. Colonies were good -> source of raw materials + place to sell your country’s stuff 6. Construction of roads and canals 7. Government should be involved in economic activity 8. Economic activity should benefit the state
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Europe’s overseas expansion -> international commerce Transatlantic trade = huge profits Pepper and spices from the Indies Sugar from Brazil and the W. Indies Coffee and tea from Asia Trade begins to link Europe, Africa, the East, and the Americas
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Between 1500 and 1800 Atlantic nations of Europe move into all parts of the world 16 th century = Portugal and Spain 17 th century = the Dutch End of 18 th century = England
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Pop losses due to European diseases Social and political structures destroyed European institutions, religion, languages, and culture replace indigenous people’s Sexual exploitation Mestizos Mulattoes Horses New european crop -> wheat
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Franciscans, Dominicans, and Jesuits led missionary/conversion work in Spanish Americas The Missions Hospitals, orphanages, and schools Jesuit missionary work in China and Japan -> 300,000 converts in China Missionaries expelled from Japan and Japanese Christians persecuted FRANCIS XAVIER
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Europeans in the Americas wanted -> riches, land, social advancement Gold and silver The Columbian Exchange old world = horses, cattle, wheat New world = potatoes, chocolate, corn, tomatoes, tobacco
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