18th century

Market Economy

An economic system in which production and prices are determined by unrestricted competition between privately owned businesses.

Agricultural Revolution

A period of significant agricultural development marked by new farming techniques and crop varieties which increased crop yield.

Little Ice Age

A period of cooler climate that lasted from the 14th to the mid-19th century, which impacted agricultural productivity.

Crop Rotation

A farming practice where different crops are grown in a sequence on the same land to maintain soil fertility.

Jethro Tull

An agricultural pioneer known for inventing the seed drill and improving crop cultivation techniques.

Enclosure Acts

Laws that consolidated small landholdings into larger farms, allowing landowners to maximize profits and control land use.

Mercantilism

An economic theory that emphasizes the importance of stockpiling gold and silver and maintaining a favorable trade balance.

Flying Shuttle

An invention in textiles that increased the speed of weaving and improved the efficiency of textile production.

Reasons of State

The principles which drive governments to prioritize national interests and security over moral considerations.

Balance of Power

A political theory where power is distributed among multiple states to prevent any one state from dominating.

Pragmatic Sanction

A legal order issued by Emperor Charles VI to ensure the succession of his daughter, Maria Theresa.

Seven Years War

A global conflict that involved most of the world's great powers; it set the stage for Britain's dominance in global trade.

Peace of Aix la Chapelle

A 1748 treaty that ended the War of Austrian Succession, restoring the status quo ante except for Silesia.

Treaty of Paris 1763

A treaty that ended the French and Indian War, resulting in significant territorial gains for Great Britain.

Cottage Industry

A system of production where goods are manufactured in homes rather than factories, prevalent before the Industrial Revolution.

National Debt

The total amount of money that a country's government has borrowed and owes to creditors.

Industrial Revolution

A period of major industrialization in the late 18th and early 19th centuries that transformed economies from agrarian to industrial.

Silesia

A region in Central Europe that became a point of contention between Prussia and Austria during the 18th century.

French Indian War

A conflict between Britain and France in North America that formed part of the Seven Years War.