Lect+9+Mercantilism+Europe+sound.pptx - To Mercantilism...

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To Mercantilism Trade, Colonialism, Conquest: National Regulated Economies reshape International Economies Part 1 : Conceptual/Developmental
benefitting from the work of others Contexts that lead to change What is Mercantilism ? European models – Portugal, Spain, France, Netherlands, England… Summing up Mercantilism Emerges in Europe
Europe Gains from on Developments Elsewhere Chinese Compass Middle Eastern Lateen Sail Chinese Sternpost Rudder Islamic Portlan Maps Chinese Developed Gunpowder Printing From China
“Regained” Knowledge: Ptolemy’s Ancient Map Rediscovered – into Latin 1406
Claes Janszoon Visscher map [1652] Gaps remain but far fewer Mercantilism fills in Map for Europeans
WHY DID EUROPEAN SEEK THE WORLD ? Mercantilism Part of Age of Expansion Motivations: Religion -- seek conversions (roots to Crusades); humanist – Curiosity/Science Technological hopes – “east” has already brought the clock, better plough, crop rotation, compass, better ship design, printing….. broader opportunities for trade & getting raw materials [greed ?] New Contexts: Financial developments bankers, new “firms” better entrepreneurial tools Stronger monarchs – “Absolutism” spreads: [not everywhere or for equal time] -Portugal -- Prince Henry c.1385 -Spain -- Ferdinand & Isabella c. 1474 -France – grows to Louis XIV -England -- Henry VII 1485 – Elizabeth I Stronger Monarchs more easily (if not always wisely) borrow to get armies, suppress nobility, centralize government authority To east - Ottoman Turks (14 th C.+) push west; under Sultan Mohammed II (1451-1481) take Constantinople & control eastern Mediterranean -- force European attentions westward
“Devine Right of Kings” – Variations on a Theme “Case Studies”: Philip II (Spain) [1556-98] Louis XIV (France) [1643-1715] Frederick William & Frederick the Great (Prussia) [1713-1786] Peter the Great (Russia) [1682-1725] Henry VII – Elizabeth I (England) [1485-1603] Not all of these rulers were Mercantilist; nor did they sustain Absolutism for equal durations – Tsarist Russia remained Absolutist to 1917; in contrast, England would have Parliamentary oversight from the “Glorious Revolution of 1688” & the Dutch formed the United Provinces of the Netherlands. Still, Absolutist ideas grew Mercantilism
can improve via commerce & technology wealthier, more powerful state [colonies = resources, room for “excess” population & more) manufactures & commerce key to national wealth; colonialism is good as colonies offer raw materials for manufacture & a market Individual gain will “naturally” supersede concern for national wealth welfare of the national economy thus policy should support the latter (national) interest “order” is not natural (i.e. no “invisible hand” or other force) thus national prosperity assured through use of power to achieve / acquire “plenty” Plenty [wealth] finite // power is “relative” if you gain [e.g. positive balance of trade] someone else is necessarily weaker Mercantilism: Nation at Centre [overgeneralized & simplified]
Confirming Nation States - Treaty of Westphalia 1648 Ratification of the Peace of Münster (Gerard ter Borch, Münster, 1648) 100 Years of war Protestant vs.

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