18th century

In the interim all three societies continue

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Unformatted text preview: be used when labor is scarce no scarcity of labor in gold rushes. So why slavery? The powerful have entrenched slavery as the way to do labor in Brazil, so they can concentrate the wealth. Also, a certain amount of egalitarianism: those who work the hardest get the most gold using slaves then establishes the colonial social strata. Defines colonial society Both silver and gold boom between 1700 and 1750. China is still only silver, but the ME, Europe and Africa take both gold and silver. WHEN you produce more silver, the value goes down, but the demand and price of gold goes up. And vice versa. SIMULTANEOUS gold and silver booms for 50 years is VERY rare. Keep your eye on the fact that around 1700, population is growing simultaneously in Europe, the Americas, and China the tota...
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