Review Flashcards on European Economic History

Flashcards reviewing key concepts from lecture notes on European economic history, covering pre-industrial economies to globalization and the World Wars.

What characterized pre-industrial technology?

Practical innovation like water mills and heavy ploughs, with limited influence from science until the 19th century.

How did the Agricultural Revolution contribute to industrialization?

Enclosures and crop rotation led to surplus labor, which could then be employed in factories.

What are the core mechanisms of Malthusian dynamics?

Positive checks (increased deaths as wages decrease) and preventive checks (delayed marriage leading to lower fertility).

How did the Black Death impact wages in the 14th century?

It caused a temporary rise in wages due to labor scarcity.

What factors drove rising life expectancy?

Improved nutrition and public health (sanitation), rather than medical advancements until after WWII.

What explains France's slow industrialization?

Political instability, small-scale farming, and conservative banking practices.

What customs union expanded markets in Germany?

Zollverein

What was the approximate colonial trade percentage of British GDP?

Approximately 5%.

What raw material was critically sourced from the Americas for European textiles?

Cotton

What are the stages of Demographic Transition?

Stage 1 (high birth/death rates), Stage 2 (death rates decrease), and Stage 3 (birth rates decrease).

How did the three-field system impact agricultural productivity?

It increased agricultural productivity in medieval Europe.

What does the Western European Marriage Pattern refer to?

Delayed marriage, which led to controlled fertility.

What characterized wage trends in the Malthusian world versus post-1800?

Static in the Malthusian world but rising post-1800.

Following the Roman collapse, what drove incentives for labor-saving tech?

Labor scarcity

What powers were used in the Medieval Economy?

Animal Power and Inanimate Power (water and windmills)

Why were fallow periods critical?

Critical for soil recovery

What innovations allowed winter livestock survival?

Hay cultivation

What was Lynn White's Thesis?

Stirrup caused feudalism

What are the pros and cons of Feudalism?

Pros: Stability, Localized defense, Manorial self-sufficiency. Cons: Suppressed labor mobility, Hindered large-scale trade, Low agricultural innovation

What facilitated the rise of towns?

Silver mines, monetization, and guilds.

How did firearms impact state centralization?

Monarchs could destroy noble castles which led to a rise in centralized states.

What was the impact of Black Death?

Population declined which led to increased real wages (labor scarcity)

What were the post-Plague Innovations?

Printing press, blast furnaces, caravel ships

What was Portugal doing during the Age of Exploration?

Indian Ocean trade (spices, protection rackets).

What was Spain doing during the Age of Exploration?

Silver from Americas which led to global inflation (Price Revolution).

What was the Columbian Exchange?

Maize and potatoes which led to population growth in China/Europe

What was Hamilton's thesis?

Spanish silver influx led to inflation

What replaced Antwerp in terms of economic power?

Amsterdam

What industry declined due to the Navigation Acts?

Decline of Dutch Dominance

What policies were used in Mercantilism?

Strategic industries, monopolies, bullionism

What factors distinguished France from England?

France: Peasant farming, high pressure demographics, and weak tax system. England: Enclosures, low pressure demographics, and strong finance.

What caused the Price Revolution?

Silver influx, Population growth, Commercialization

What trading firm was known for VOC monopolies?

Dutch

What trading firm was known for territorial control?

British (EIC)

What impact did Spanish Silver have on Spain?

Dutch Disease

What labor system was used in plantation economies?

Enslaved Africans

What items were traded in the Triangular Trade?

Europe -> Africa: Guns, textiles, cowrie shells. Africa -> Americas: Enslaved people. Americas -> Europe: Sugar, tobacco, cotton.

What was the Staple Thesis?

Colonies specialized in crops suited to their climate.

What crops existed in the colonies?

Sugar in the Caribbean, Tobacco in Virginia, Rice in Carolinas, and Cotton in the Deep South.

What was the Williams Thesis?

Slavery profits financed British Industrial Revolution.

What's the counterargument to the Williams Thesis?

Colonial trade was too small to impact reinvestment

What was the economic role of the sugar crop?

Dominated British trade (environmental degradation).

How did the plantation economy impact labor?

Shifted to enslaved Africans.

According to Wallerstein's World Systems Theory, what did Europe do to colonies?

Europe underdeveloped colonies for raw materials.

What crops and systems were critical for the Industrial Revolution?

Three-field rotation → Later agricultural revolutions (link to Industrial Revolution drivers).

What was the key driver of agricultural productivity?

Nitrogen management via manure, legumes, and root crops.

What did the enclosure movement entail?

Shift from open fields to capitalist estates.

What yields did England have?

Wheat yields rising from 8 tons/acre (1300) to 13.5 tons/acre (1650).

What was the putting-out system?

Merchants supplied materials, bought finished goods.

What was the impact of labor in this era?

Agricultural workforce ↓ from 75% (1300) to 45% (1690).

Where did coal increase?

Output tripled (1550–1650) → used in brewing, salt- making (not iron).

What products fueled urban growth?

Timber, grain, and naval supplies

What was Vries' Industrious Revolution?

New consumer goods lead to an incentive to work harder (shift from limited goods to aspirational consumption).

What was land ownership like in England during this time?

Enclosures leading to capitalist estates.

Compared to Guilds, what was the location of Proto-Industry?

Rural

Compared to Guilds, who controlled Proto-Industry?

Merchant capitalists

What was innovative about the English Parliament after the 1690's

Parliament’s post-1690s landowner control which led to agrarian capitalism.

What kind of market did Coal facilitate?

Limited to non-iron industries (charcoal still dominated ironworks).

What was the traditional Pre-1980's view of the Industrial Revolution?

Sudden takeoff in late 18th century (1760–1800).

What is the modern consensus view of the Industrial Revolution?

Slow, incremental growth.

What was the initial focus of the Industrial Revolution?

Limited to three sectors initially (cotton, steam, iron) with gradual spillovers.

How was energy used differently?

Coal-driven: Shift from organic (wood, muscle) to inorganic energy.

When did Watt create a separate condenser?

1770's

What sectors did Steam impact?

Mining, iron production; not textiles until post-1820s.

Why was cotton suited to mechanization?

Elastic raw material (vs. wool)

What was the limitation of charcoal?

Expensive and scarce

How did watches improve?

Anonymous progress: Watches (price ↓75% via division of labor).

Which cities were medieval?

Norwich and York

Which cities were Industrial hubs?

Manchester and Birmingham

What was Crafts' view of the Industrial Revolution?

Gradual growth driven by incremental tech.

Before powering railways and textiles, what was coal's use?

Brewing, salt-making, pottery, glass (pre-1750).

For what innovations was Watt most known?

Watt’s condenser for efficient mining/iron production

Why was Cotton favored over Wool?

Mechanization favored cotton (elastic supply, no guild restrictions).

What type of innovation was used in Birmingham?

Artisan skills → machinery innovation.

According to Allen, what incentivized the Industrial Revolution?

High wages in England.

What reasons allowed London to have cheap coal?

London’s growth increased energy demand which allowed for cheap coal.

Why was the spinning jenny not more profitable?

Clark: Spinning Jenny would have been profitable in low-wage France.

How did worker heights vary between France and England?

English workers taller (170 cm vs. France’s 161 cm) and lived longer (life expectancy 40 vs. 28 years).

What were the heat and power sources for Wrigley?

Heat Source: Reverberatory furnace. Power Source: Steam power

According to Mokyr, what drove innovation?

Scientific networks and Enlightenment ideals

What markets and policies existed?

Internal market and Navy Demand

How was France reliant on water to power factories?

Relied on water power which allowed for decentralized, small factories.

Why did Coal drive metalworking?

Metalworking dominance; and cheap energy.

What was America known for in the Second Industrial Revolution?

Interchangeable parts → Economies of scale (Fordism).

How did Watt and Newcomen's views differ?

Newcomen's was trial-and-error, Watt's was science-based.

Where was the shift in global leadership?

US and Germany emerge as leaders via R&D and institutional support.

What were the characteristics of advancement regarding Transportation??

Railways and Maritime, and Automobiles

How did life increase?

Life expectancy ↑ due to vaccines, disinfectants, and hygiene.

Why did Germany lead?

Synthetic dyes, Haber-Bosch process for fertilizers, dynamite

After coal, what was the energy source?

Electricity

The Haber-Bosch Process fed how much of the world?

Haber-Bosch fed 1/3 of the world via synthetic fertilizers by 1918.

What reforms did France make following Napoleon?

Code Napoleon: Unified legal system, abolished internal tariffs, ended serfdom.

Was France an economic failure?

Industrial Productivity but low living standards

What industrial path did France take?

Labor-intensive luxury goods

Compared to Britain, how did France lag in the Industrial Revolution?

Water turbines (56% of power in 1899) → decentralized, small factories

What effect did stagnation have on France?

France’s population grew 10% (35.6m → 39.7m) vs. UK’s 100% growth

Why was France reliant on energy sources and what was the outcome?

Energy limitations shaped industrial geography and delayed steam adoption.

How did the unification of Germany impact the market?

1,800 internal customs barriers were removed which helped hindered trade.

According to Gerschenkron, how does lateness impact backwardness?

Late industrialization required: State Intervention and Big Banks

Which country had more railways by 1890?

Germany at 42,000 km compared to UK at 33,000 km.