The age of Exploration

Chapter 14

Mercantilism

drove European nation-states to maximize wealth—measured in gold and silver—by maximizing exports and minimizing imports, often creating trade monopolies

Monopoly

the exclusive possession or control of the supply of or trade in a commodity or service.

Encomienda System

A system that let the Spanish demand forced labor from indigenous people. Caused by the crown’s need to control colonies and led to devastating deaths for indigenous peoples.

Innovations

shipbuilding, navigation, and mappin

Portugal

Brazil, Madeira, Africa, Asia. Wealth, spices, sugar. Gold, enslaved labor

Spain

Americas, Philippines, Pacific islands, Africa, Canary Islands. Silver and gold, long-term economic instability. Dependent on other nations for goods.

France

Canada, Acadia, Louisiana, Caribbean, South America, Africa. Exploited colonies for raw materials. Sugar, coffee, furs. One-sided trade.

England

Ireland, Americas, Caribbean. Captive markets for manufactured goods, marchantilism restricted trade.

Netherlands

North America, Caribbean, Africa, Asia, Oceania. Waltham through trade, rise of Dutch East India Company.

Dutch East India Company

a powerful, state-chartered monopoly that dominated Asian trade during the Age of Exploration

The Columbian exchange

Exchange of plants and animals and even people from the old world and new world caused by Columbus 1492 voyages.

The triangular Trade

Complex routes connecting Europe, Africa, and the Americas caused by expansion, colonialism.

Commercial Capitalism

Early stage of capitalism caused by global trade, gave us our global economy through expanded trade.

The price Revolution

Increase in the price of goods and services caused by amount of money coming into Europe at the time, widespread inflation across Europe.