4.5

economic strategies

• wealth measured in gold / silver, from americas used mercantilism for max profit

• capital- material wealth, grew with entry into new markets, went from entrpeneurs to laborers, laborers in better position to become consumers/investors

• restrictions by church, lending high rates of money became common

commercial revolution

• caused by transformation to a trade based economy (using gold and silver)

• affected allregions of world, resulted from

  • dev of overseas euro colonies, opening of new ocean trade routes, pop growht, inflation from pressure of population and increased gold/silver

• price revolution- high rate of inflation, general rise in prices in 16-17th cent

• joint stock company- owned by investors, bought back stock/shares

• people incested capital in companish and shared profits/risk of exploration

• limited liability- principle that an investor was not responsible for companies debts/lieabilities beyon the investment,made investing safer

• european middle class had capitalto invest from buisness in home country

• had money to buy imported luxuries

• dutch, english, french developed jointstock companies

• british east india company, dutch east india company

• spain and protugal did most ivnesting itself from grants to local explorers.

• joint stock companies drove force behind developement of maritime empires, allowed exploration, ventures to colonies, developed resources, limited risk to investors

commerce and finance

• dutch were commercial middle man, made trade routes to latin america, north america, south africa, and indoneasia

• dutch ships faster and lighter, trade advantage

• dutch east india company highly succesful

• made enourmous profits in spice islands/southeast asia

• bank of amsterdam traded currenct internationally 

• dutch standard of living highers, diamonds, linen, lpottery, tolip bulbs traded by dutch

• france and england not so fortunate, fell victim to speculative financial schemes, called financial bubbles, based on sale od share tpo investors who were promised a certain return on investment

• frenzy of buying, drove up price of shares, bubble burst, investors lost huge amounts of money, sent many into bankruptcy, influcting wide damage to economy

triangular trade

• euros desire for enslaved worked in americas and portugals discober of west africa made africa new source of labor

• enslaved africans became part of atlantic trade system called triangular trade, voyages often had 3 segments

• euro goods/firearms to west africa, then enslaved wen to americas, ship loaded up on sugar, and tobacco, went to europe

• sugar most profitable good from americas

• carribean sugar and rum production fianced fortunes in britain, france and netherlands

rivalries in the indian ocena trade

• portuguese deafeated muslim/venetian force in naval battle on arabian sea over trade

• portuguese coffers depleted, morocco looked inland to take riches of songhai

• prohibited waging war on another muslim state, moroccos used cannons, horses, camels, firearms and traveled for months, battle near Gao, songhai had more fighter but were overcome by firearms, spanish and portuguese late took most territory

change and continuties in trade networks

• new monpolies

• chartered by european rulers, granted joint stock merchants/government exclusive rights to trade

• spanish gov established monopolt over all doemstic tobacco grown and all in american colonies

• profits from monopoly made spain rich, 1/3rd of revenue

• ongoing regional markets

• improved shipping offered merchants oppurtunity to increase volume of products

• increased output of peasant/artisan labor, wool and linen from west europe, cotton from india, silk from china, exchanged in ports globally

effects of atlantic slave trade

• weakened wesr african kingdoms, kongo

• loss of people slowed pop growth, trade competion led to violence in societies, made slave raiding kingdoms economicallu dependent on goods from europe

• societies slow to develope complex economies where own goods produced, 

• slave trade let euros conquest and become impearalist

• societies that did slave trade, dahomey, oyo, made richer from selling captives to euros

• had politcal effects, societies that received guns from trade took advantage of societies that didnt, neighbors couldnt fight slave raids, raiding societies became richer and stronger with firearms, intergroup warfare frequent/bloodier

slavery and gender

• most affected by slave trade were pople from west africa ghana/benin, were most kidnapped and sold

• more than 2/3 tkaen were males, predominance of women in africa led to polygyny

• forced women to take a mans job

impact of new foods

• pop growth in africa from improved diet, columbina exchange brought maize, peanuts, and manioc (yucca or cassava), staples of african diet

politcal and cultural changes for natives

• spanish and portuguese erased social structures and many cultural traditions of native americans in a century of first euros arrviving, neawrly depopulated americas

politacal changes- colonial administration

• replaced by spanish and portugueses colonial administrations

• spanish toyalty appointer viceroys, acted as admin and reps of spanish crown

• estavblish audiencias, royal court, where spanish settlers could appeal viceroys decisions or policies. spnish crown had no dierect control over new spain

• spanish throne didnt focus on them

cultural changes

• natives lost alot of culture and historu from conquerors

• conquistadors like cortes in mexico ordered burning of native books, thought to be unholy, very few original accoutns in nahuat exist today, lang of aztecs

• most info about aztecs come from spanish accounts, biased and lack of knowledge of nahuatl custome

• bernandino de sahagun compiler florentice codez, widely sourced book about aztecs

• spanish and portuguese brought into americas, spanish predominately

• born of spanish or american origin, creoles, had politcal dominance in new spain, clamored for independence from spanish throne

effects of belief systems

• increase of global connection extended reach of religion, contributed to syncretic

• african religon in americas showed syncretism, aspects of christianity, roman catholiscim, with est african traditions, drumming, dancing and spirits that could posses

• santeria- way of the saints, originally an african faith, became popualr in cuba, traveled through latin and norht america

• vodun- means spirit or deity, originated in dahomey, kongo, yuruba by enslaved living in st dominique, haiti

• candomble- means dance to honor the gods, combo of yoruba, fon, and bantu beliefs from different parts of africa, developed in brazil

• enslaved africans in us laid roots for african american chirch, hybrid of christianity and african spiritualism, one of older and stable instituions in african american community

• islam- 1/10 of enslaved practiced it, soem men on columbus ship may have been muslim, enslaved africans were first significant presence of islam in americas

religion in latin america

• catholic religous order in europe, such as dominicans, jesuits, franciscans, snt missionaries to latin america, so succedsful, most latin american countries today are roman catholic christians

• protestants have been rising

• cahtolic siant days that coincided with days honored by natives were celebrated, aka syncretism

• cult in mexico created arounf virgin of guadelupe, revered for her ability to perform miracles

global interactions and religous conflicts

• syncretic religons also developed in afro eurasia

• sufism spead islam with focus on personal salvation, may have influenced sikhism, blended hindu and muslim

• akbar tried to end conflucs between muslims and hindus

• split in sunni and shia islam worsend conflict in otto/safavid empire

• prit in catholicism and protestants, and anglicanishm drove settlement in nroth america for people looking for freedom of religion