The document summarizes major economic and colonial developments in Europe between 1450-1750, including the rise of mercantilism and capitalism, the fur trade between Europe, Russia, and North America, the establishment of European trading post empires in various regions, the transatlantic slave trade, and the role of silver in driving global trade. Key events were the growth of joint-stock companies to pool wealth for colonial ventures and manage risk, Japan's period of isolation after contact with Europeans, and inflation that resulted from increased economic activity and money supply.
3. 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
4.
5. FUR TRADE
Luxury furs exported from Russia and North
America .
Variety of animal furs and varieties of peoples
involved in the trade.
6.
7.
8.
9. EUROPEAN TRADING POST EMPIRES
European nation-states controlled ports and
territories in the Americas, Africa, South &
Southeast Asia
Increasingly Europeans carried the trade
goods of maritime trade…even the routes
that had existed before European arrival
10. 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
11.
12.
13. After a period of contact with Europeans,
Japanese isolate themselves from outsiders
while profiting from the silver trade and
keeping “watch” on outsiders.
14.
15. TRANSATLANTIC SLAVE TRADE began
Massive movement of people through the
slave trade from coasts of West Africa to the
Americas led by Europeans.
Slave trade to fill demand for labor in
plantation agriculture in the Caribbean,
Brazil, and N America.
Part of the Atlantic trade triangle
16.
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23. SILVER!
Silver was THE ITEM that really began GLOBAL
TRADE
Chinese demand for silver and new silver
mines in Spanish America & Japan led to
global trade movement.
24.
25.
26.
27. 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
