Lecture Notes - Economics The Dual Revolution Economic The...

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Economics08/19/2015°“The Dual Revolution”°°EconomicThe industrial revolution°PoliticalThe Atlantic revolutionsoThe American, French, Haitian, and Latin American revolutions°°The Era of European dominance1780-1945the European moment in world historythe rest of the world encounters Europeans by force and choice°Henry Smeathman in Africa, 1773Europe to Africa to collect insectsVisits Bance/Bense/Bunce islandoWhere trading occurs (slave trading)oBut doesn’t write in his journal on thisoSlavery is ubiquitous- not even worthy of mentionoPlayed golf on the island and wrote about itoFirst gold course in AfricaoPlayed against British merchants on island°World Economy before 1800Four featuresDominance of agricultureoGrowing food to sustain themselvesMerchant networksoFace to face relationships, trading in warehousesHousehold (family) productionoNo division between workplace and home
Slave LaboroPeople become thingsoValuable commodities- insurance developsoMore than 10 million slaves shipped (alive)oYoung males were most desired- birth rates go down, less familiesoHighly profitable for slave traders°Consequences of African SlaveryInternal warfareDemographic instabilityInhibited economic development in AfricaA legacy of racismoRacism encouraged and nurturedCreation of the African diaspora oProduces expatriate community of people of African descentoBring cultures with themEmotional traumaoFamily and personal tragediesoScars of the system linger for long°Francis Boucher- “The Breakfast”French painting 1739Furniture and fixtures not from EuropeThe domestication of foreign commoditiesoTrade allows “exotic” objects and foods to cease to be exotic and become mundaneoTrade allows foreign objects and foods to become domesticated and part of everyday lifeThings people are filling their homes with come from China and India (Asia)oTwo dominant powers in the world economy before 1800°IndiaLargest exporter of good in the worldHighly diverse and specialized economyoMetal ware and cloth (Indian cotton- most desires)
In 18thcentury India Employs European ships (the carrying trade)°ChinaRichest country in the world (18thcentury)Highly commercialized, non-industrial societyHighly developed internal economyFew exports or imports- design to sell all goods within ChinaSpecialized in porcelain, tea and silk- most sought after consumer goods (bought with gold and silver)Production in GuangzhouoForeigner trading port cityoOnly port foreigners are allowed in1793 The MacCartney Embassyomeets with emperor to try and enhance tradingoemperor sends him back to Britain with letter saying they don’t want anything but gold or silver°First Sign of Change in the 1700s (less Asian trade)First World Population Explosionoimproved food supply- due to global tradediversified and more nutritiousodecline of the plague (bubonic)nothing to do with human progression on treatment

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