AP Euro Unit VII: The Global Economy of the Eighteenth Century

Agriculture

The biggest industry in the eighteenth century, continuing the trend from earlier economic developments.

Merchant Capitalism

A system that emerged in the eighteenth century, focusing on the establishment of trade and commerce.

Domestic System

A method of production popular in the eighteenth century, especially in weaving and metal manufacturing industries.

Foreign Trade

Trade that contributed to a robust economy in the eighteenth century, along with internal trade.

British, French, and Dutch Trading Companies

Organizations that generated significant wealth and facilitated competition for global markets.

Banking in Amsterdam and England

Financial institutions that played a crucial role in the economic development of the eighteenth century.

Mercantilism

An economic theory that emphasizes the role of the state in managing international trade and commerce.

Plantation Economy

An economic system in America characterized by the production of cash crops like sugar cane, supported by slave labor.

West Indies

A key region in the sugar trade, supplying sugar cane and slave labor for plantations.

Slave Labor

Critical to the American plantation system, as it provided the workforce necessary for production and significantly funded the British economy.

Western Europe

Gained most of the profit from trade, contributing to economic growth and political stability.

Africa

Provided slaves for labor in the Americas, integral to supporting the plantations and trade.

Social Classes Effects

Eighteenth-century economic developments led to the rise of private property and private capitalism, impacting upper classes and merchants.

Political Significance of New Wealth

Wealth generated from trade created political stability and influence among nations.