Objectives

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Objectives

• Students will be able to explain the political
  and economics developments that occurred during
  the Early Modern Period.

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The World Economy (15th 18th Centuries )
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I. A More Connected World

• The World Economy
• Truly began with European exploration and
  conquest of the New World
• International exchange of manufactured goods,
  foods, diseases, and traditions
• Included Atlantic, Pacific, and Indian Oceans
• Extensive use of silver as method of exchange
• A major power shift that placed Europeans
  squarely in the center of the world

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II. European Maritime Dominance

• Europeans initially limited by poor technologies,
  fear, and lack of knowledge
• Other societies (Vikings, Chinese, Muslims) had
  already surpassed Western Europe in establishing
  sea trade
• Changes
• Wealthy upper class demanded imported goods
• Technological improvements
• Better sailing ships for long distances,hauling
  cargo/weapons
• Use/improvement of compass
• Maps/mapmaking
• Development of guns/cannons
• Portugal Spain are first to compete for sea
  power
• Portugal set out to discover new lands/routes to
  India, mid-1400s
• Financed by Prince Henry the Navigator

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II. continued

• Spain sought similar goals
• Christopher Columbus thought he had found India
  (1492)
• Ferdinand Magellan sailed across both the
  Atlantic and Pacific, claimed the Philippines
  for Spain (1521), first voyage to fully
  circumnavigate the globe
• Northern Europe
• 16th century England, France, Holland compete
  for power
• Improvements in boat design (faster, lighter)
  help lead Dutch (Holland) to dominance in
  Southeast Asia
• France and England battle for North America,
  South Asia

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II. continued

• All nations wanted economic gains through the
  control of resources and the import/export of
  goods
• Nations set up trading companies that were not
  closely supervised by the home governments
• Often acted as independent governments in the
  areas in which they operated
• Laid foundation for colonial dominance in areas
  like North South America, South Southeast
  Asia
• Examples Dutch East India Co., British East
  India Co.

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III. Impact of World Economy

• Columbian Exchange
• New World foods come to the Old World
• SEE MAP FOR EXAMPLES!
• New crops agricultural improvements pop.
  growth in Old World
• Old World animals to the New World
• SEE MAP FOR EXAMPLES!
• Disease spread quickly
• Native Americans had no resistance to
  Afro-Eurasian diseases (measles, small pox)
• More than 50 of native pop. wiped out in 16th
  and 17th centuries
• Competition among Europeans becomes more
  prominent

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5-Minute Response

• Describe the positive and negative consequences
  of the more connected world that appeared in the
  late 15th and 16th centuries.

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IV. Inequality and Imbalance

• Europeans come to dominate overall world trade
• Chinese, Japanese, Muslim empires slowly loose
  control/influence
• Battle of Lepanto (1571) Spanish defeated
  Ottoman Empire, ended any hope of a dominant
  Muslim trading empire
• European core nations developed many areas of
  world become dependent on Europeans
• Dependent areas produce low-cost goods (precious
  metals, spices, tobacco, etc.)
• Core-nations traded or forcefully acquired goods
• Demand for cheap labor leads to slave labor
• China, Japan, and Muslim empires resist European
  influence
• Limit contact to exchange of weapons technology,
  establishment of trading posts

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V. European Expansion and Colonies

• The establishment of colonies gave Europeans a
  firmer grip on many parts of the world
• First American colony established by Spain in
  Panama, by Vasco de Balboa (1509)
• Francisco Pizarro overtook Inca Empire for Spain
• Helped cement control of South America
• Early colonists out for gold
• Gradually develop more structured system based on
  agricultural settlements and cheap/forced labor
• Spain and Portugal controlled most of Latin
  America (Central South America), while France
  and England struggled for control of North
  America

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V. Continued

• Africa and Asia
• Europeans deterred by disease and climate,
  originally stayed mostly on coasts of Africa,
  Asia
• Cape Colony established by Dutch (1652) on
  southern tip of Africa
• Boers (farmers) acted as European pioneers in
  Africa
• Eventually, began moving towards inland Africa in
  search of suitable farmland, resources, and
  slaves
• Philippine and Indonesian Islands in Asia became
  centers of control for Spain, France, and Holland
• India was a battleground between France and
  England
• England would prevail and control India for
  centuries

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VI. Impact on Western Europe

• Economically, Western Europe grew beyond measure
• Began to focus more on manufacturing and
  exporting (mercantilism)
• Dependence on domestic agriculture began to
  lessen
• Politically, the growth of the World Economy had
  a profound effect on W. Europe
• Colonial expansion efforts added to already
  existing rivalries and tensions, strengthened
  monarchies
• British/Dutch v. Spanish
• British v. Dutch
• British v. French
• Seven Years War (1756-1763) was fought in
  Europe, India, and N. America
• Often called the first world war, ended with
  Treaty of Paris

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5-Minute Response

• In the 16th and 17th centuries, the global
  balance of power was tipped.
• What does this mean, and to whom did it tip?
• What are some reasons for this tip and what was
  the impact?

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Key Vocabulary Chapter 16

• World Economy
• Cape of Good Hope
• Christopher Columbus
• Ferdinand Magellan
• Dutch East India Company
• British East India Company
• Core Nations
• Mercantilism
• Francisco Pizarro
• Vasco de Balboa
• Seven Years War

• Treaty of Paris (1763)
• Cape Colony
• Boers