Poli Sci 240 Topic 2: Colonialism, Westphalia and the 30yrs Crisis

Mercantilism

an economic doctrine based on the idea that military power and economic influence complement each other; this was mostly relevant b/t 16c-18c. (eg. Dutch West India co., Hudson Bay co.)

Sovereignty

the expectation that states have legal and political supremacy- ultimate authority- within their own territorial boundaries

Hegemony

the predominance of one nation state over others (Hegemone is the nation state that achieves this)

Pax Britannica

aka “british peace” aka “100 years’ peace” Beginning with the fall of Napolean in Waterloo and ending with the start of WW1 this is the period in which Britain’s military and economic world dominance contributed to relative peace among the world powers and economic openness

Gold Standard

the monetary system that prevailed from 1870-1914, in which countries tied their currency to the fixed price of gold