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Rise of Modern Capitalism

Rise of Modern Capitalism. Chapter 1 Section 2 Pages 90-97. Vocabulary Words. Capitalism: money invested in business to make more money Joint-Stock Company : organizations of stockholders formed to share profits and risks of ventures

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Rise of Modern Capitalism

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  1. Rise of Modern Capitalism Chapter 1 Section 2 Pages 90-97

  2. Vocabulary Words Capitalism: money invested in business to make more money Joint-Stock Company: organizations of stockholders formed to share profits and risks of ventures Mercantilism: theory that a nation becomes powerful by building up a supply of gold and silver Columbian Exchange: global exchange of people, goods, technology, ideas and diseases

  3. Essential Question #1 What were the voyages of discovery, locations of routes, and influences of cartography in the Americas?

  4. Essential Question #2 What were the origins of modern capitalism?

  5. How did Capitalism Develop? • Search for wealth led to capitalism • an economic system in which money is invested to make profits • Commercial Revolution • Roots of modern financial and banking life

  6. Growth of Banking 1600’s: system of banking in financial trading ventures Gov’t funded trading Wealthy families set up banks

  7. Changes in Banking • Persecuted Jews • Financiers • Importers • shipbuilders • Gov’t supported banks

  8. Joint-Stock Companies • Wanted to invest in exploration • Merchants combined resources • Raised funds for voyages • Dutch East Trading Company • From Netherlands • Monopoly (sole right) to trade • Gov’t received taxes

  9. A New Business Class Entrepreneurs combined money, ideas, raw materials and labor to make profits

  10. What is Mercantilism? • Led to colonies • 1600’s economic policy • Built up supply of bullion (gold, silver) • Spain sent conquistadors to Americas • Seized gold/silver of Incas and Aztecs • Exported more than imported • Merchants made money • Gov’t made taxes

  11. Quest for Colonies • Columbian Exchange in the Americas • Brought livestock • Changed lives • Rivalry among nations • Colonies controlled by home country

  12. Trade in Goods • Europeans planted grains from Europe, Asia • New Animals • Pigs, chicken, sheep, cattle, horses • New Crops • Acquired corn, potatoes, tomatoes, beans, chocolate, squash, chili peppers, peanuts, tobacco, sugar cane, tea, bananas, coffee

  13. Slave Trade Enslaved Africans planted and grew sugar cane

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