Economy

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Last updated 10:36 PM on 8/22/24
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17 Terms

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Claim

A claim must restate the prompt and provide a debatable position.

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Dutch Empire

Established colonies in the Caribbean, Brazil, and North America.

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Slave Trade

The use of enslaved Africans to work in sugar plantations of the Caribbean and South America.

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Dutch West India Company (DWIC)

A company that established colonies and was granted a monopoly over Dutch trade in the Atlantic.

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Manhattan Island Settlement

In 1624, the DWIC settled colonists on what would become New York City.

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Monopoly

The DWIC had exclusive control over Dutch trade in the Atlantic, central to its operations.

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Joint Stock Company

The DWIC operated as a joint stock company, pooling financial resources and sharing risks for maritime voyages.

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Capitalism

An economic system based on private ownership and the free exchange of goods, aiming for profit.

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Columbian Exchange

The influx of wealth from this exchange hastened the end of feudalism in Europe, leading to capitalism.

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Mercantilism

A 15th-18th century economic policy where colonies existed to benefit the parent country economically.

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Favorable Balance of Trade

Mercantilism aimed to maintain more exports than imports to increase a country's wealth and power.

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Government Regulation

The role of government in ensuring cheap raw materials and labor for maximum outputs.

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Dutch Religious Toleration

The Dutch Republic was known for its relative religious tolerance compared to other European nations.

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Diversity in Dutch Territories

The coexistence of Calvinists, Catholics, Jews, and other religious groups fostered a diverse colonial society.

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French Empire

The fur trade was central to the colonial economy of both the French and Dutch.

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Impact on Natives

The poor soil in Dutch territories led to reliance on trade and military alliances with Native Americans.

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Humane Treatment of Natives

The Dutch approach resulted in more humane treatment of natives, giving them more control compared to Spanish outposts.