_Review of The Rise of Commercial Empires_

_Review of The Rise of Commercial Empires_ - Business...

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Business History Review The Rise of Commercial Empires: England and The Netherlands in the Age of Mercantilism Jonathan Israel argues in Dutch Primacy in World Trade (1989), that Holland’s control of the “rich trades” made possible the Dutch economic miracle of the 17 th century, when the Netherlands enjoyed the highest capital- labour ratio in Europe. o He attaches less importance to Holland’s dominant position in the colonial import and re-export trade. o The exchange of Baltic grain for Mediterranean products was the mainstay of the Dutch entrepôt in its Golden Age. According to Ormrod, British mercantilist policies… o made London the premier entrepôt of Western Europe in the 18 th century o allowed British merchants to concentrate their limited financial resources on trade with the West Indies and North America. Britain’s transatlantic trade transformed the world economy after 1689 and made possible the Industrial Revolution. Many mercantilist writers equate Holland’s loss with Britain’s gain.
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_Review of The Rise of Commercial Empires_ - Business...

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