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The World Economy

The World Economy. The Early Modern World 1450 - 1750 CE. Diffusion and the World Economy. Essential Question: How has the diffusion of ideas, commerce, etc. changed from the earliest civilizations through the Early Modern Period?. Classical Period

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The World Economy

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  1. The World Economy The Early Modern World 1450 - 1750 CE

  2. Diffusion and the World Economy • Essential Question: How has the diffusion of ideas, commerce, etc. changed from the earliest civilizations through the Early Modern Period?

  3. Classical Period Relatively new economies and cultures developing Mediterranean, China, India Regional trade Post-Classical Period Religions spread through missionaries Interregional trade between continents Which regions dominated trade? • Early Modern Period • New areas - the Americas • Global trade increases • Shifts in power structure • Europe dominates trade

  4. Challenges: Muslim traders, Mongols, China Ignorant of World Lack of money Limited technology Advantages: Invested rulers New Technology (later on) Missionaries Strong militaries European Exploration • Motivations?

  5. What are they? Gov’t monopolies of all commerce Not supervised by gov’t Able to raise own armies; coin own money More powerful than some governments What were the two major trading companies? Dutch East India Company British East India Company Trading Companies

  6. Mercantilism • Theory that a state’s power depended on its wealth • Mercantilism fueled colonialism under the belief that a large empire was the key to wealth • Sought to export more than import- balance of trade

  7. 2 ways to gain wealth/power • Extract gold/silver from your (or others who you have conquered) mines • Sell more goods to other countries to get their gold - Balance of Trade: difference in value between imports and exports over time

  8. Plants, animals developed in very different ways in hemispheres Europeans—no potatoes, corn, sweet potatoes, turkeys People in Americas—no coffee, oranges, rice, wheat, sheep, cattle, no horse The Columbian Exchange

  9. Impact on Native American population Impact on earlier civilizations Increased possibilities for European colonization What are the impacts of new crops? Introduction of beasts of burden - why important? Impact on those not involved in exploration China (silver) Africa (corn, peanuts) 1/3 of all food crops grown in world are of American origin What were the results of the Columbian Exchange?

  10. Shift in power: Rise of West creates imbalances that favor Europeans for the next 300 years New Trade Empires replaces small political units; almost no society left untouched by trade Shift in trade from Eurasia to American trade routes Revival of empire-building with new military tech. New Global Economy is established Gun/Gunpowder Empires rise A Continuity: Spreading of Major religions continued Changes in the EMP

  11. 1). Declining Emphasis of nomads 2). Gender relations remain patriarchal 3). Labor relations change (master/slave) 4). Environmental changes (staple foods) 5). Nation-States emerge (solid political unit, national unity, relatively homogenous –language/ethnicity) Themes

  12. Core Zones and Dependent Zones Prince Henry the Navigator Atlantic Slave Trade Columbian Exchange Mercantilism Capitalism Terms/People

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