4.5 Maritime Empires Develop

Capital

This is material wealth able to produce more. Used in W Europe, it placed better positions for laborers and investors, facilitated economy in W Europe

Commercial Revolution

This was the transformation to a trade-based economy. This developed European overseas colonies, opened ocean trade routes, increased population, and caused inflation

Price Revolution

High increase of inflation in the early 17th century

Joint-Stock Companies

Owned by investors and shareholders who hold transferable shares for capital pooling and limited liability. People invested in this and profited while risking exploration and trade. Dutch, English, French and British developed these

Spain and Portugal’s Economy

In these states, their governments invested by itself rather than joint-stock

Dutch Role in Exchange

This state was the middleman of Europe. Built trade routes to Latin America, N America, S Africa, and Indonesia. Profited from Spice Islands and had highest standard of living with the use of diamonds, linen, pottery, etc

Triangular Trade

Enslaved Africans became part of this Atlantic trading system. European goods went to W Africa, then slaves were sent to the Americas, and sugar/tobacco back to Europe.

Rivalries on ION

Portuguese defeated Muslims and Venetians in the Arabian Sea. Morocco conquered Songhai with large forces and eventually it crumbled

Monopolies

These granted certain merchants the right to trade. Chartered by European rulers. Spanish government established one over tobacco as an example

Dahomey and Oyo from AST

These African states became richer from selling captives to Europeans. They exchanged slaves for arms

Syncretism in the Americas

Africans melded Christianity, Roman Catholicism and their own traditions

Santeria, Vodun and Candomble

Santeria is the way of the saints, in Cuba and throughout L and N America. Vodun means deity, originated in Kongo and Dahomey. Candomble is a dance to honor the gods, combining beliefs from parts of Africa originated in Brazil