...The American Revolution was a major turning point in American history that represented an evolutionary change in ideals and principles. Several political, economic, and ideological aspects had contributed to this revolution including, England’s Salutary Neglect, mercantilism, and the influences of the Enlightenment. The political aspect of the American Revolution starts with Salutary Neglect. For over 150 years (from 1609 up until 1763), the British had an unofficial, undocumented policy that would keep the colonists loyal to the mother country by allowing them to govern themselves as they please. It was mainly used not to enforce any trading laws on the colonists. The British allowed the colonists to form colonial assemblies; these were meetings between the colonists to discuss any issues that were concerning them as well as any ideas that they had in mind. The assembly had an appointed governor and helped political growth throughout the colonies. This unofficial policy came to an end in 1763 when the British nearly lost the French and Indian War. They immediately imposed new tax policies on the colonists to make up for the damage caused during the nine years of war. An economic factor that had a role in the revolution/evolution was Mercantilism. 120 years prior to the American Revolution, the British imposed a policy that was known as “Mercantilism”. It was an economic theory that in order for a certain to have economic growth, that nation must export more...
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...History 115 2 December 2009 Malleated Mercantilism Oikonomia as defined by Aristotle means “home economics”. While during Aristotle’s time this literally referred to the economic functions within a household, By the mid-seventeenth century Oikonomia was applied on a much larger scale. This expanded scale known as Mercantilism was centralized on theories revolving around state dominance, autarky, and monopolized industry. This strict system that subjected everyone and everything to the mother country’s will was adhered to with great loyalty throughout France. French royalty initiated a cycle of perpetual debt and inefficiency without realizing the true magnitude of their actions during Mercantilist times. Despite expectations and beliefs that the French were succeeding with an abundance of specie, the country and the people were actually being torn apart. With France in such a dilapidated state, there was an obvious need for change, help and opportunity. Ultimately, the amassing discontent with Mercantilism erupted as elucidated by the French Revolution. Initial response to the ideas of the Physiocrats as solutions was not positive or engaging, however, their theories would soon become the cornerstone of European economies. The multitude of Mercantilist failures in France bolstered the establishment of laissez-faire theories as the future of their global economy. The overarching economic theory of Mercantilism has no central book or founding author. However, it is agreed...
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...The Commercial Revolution “The Moneylender and His Wife,” Quentin Metsys (1514) AP European History J.F. Walters (2010) 1 Commercial Revolution: Essential Questions 1. How did developments in the late Middle Ages impact the Commercial Revolution? 2. What contribution did Luca Pacioli make to the Commercial Revolution? 3. What was the nature of banking in the Commercial Revolution? 4. What was a joint-stock company? 5. What was the Domestic System” in England? 6. What was the Price Revolution and what were its results? 7. What were the principles of mercantilism and what impact did it have on economics and politics? 8. In what ways did the Commercial Revolution sow the seeds of capitalism? 9. What was “Tulip Mania” in the Netherlands? AP European History • The Commercial Revolution • J.F. Walters & G.W.Whitton 2 The Commercial Revolution Journal 12/A: What important economic changes in the early modern centuries does the term “Commercial Revolution” signify? ––Palmer Chapter 12 • pp. 106-114–– Directions; Using sentences or detailed bulleted notes, identify & explain the evidence Palmer uses to support the thesis listed above. AP European History • The Commercial Revolution • J.F. Walters & G.W.Whitton 3 Background to the Commercial Revolution • Commercial Revolution basics ✓ ✓ ✓ ✓ • change from a town-centered (medieval manorial) to a nation-centered (early modern European) economic system in spite of name, the...
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...Hattar 3 Anthony Hattar SAO Herr Human Culture and Thought II November 2015 CP 5 In the Enlightenment Age there was a huge shift in how people thought. Intellectually people began to change their views on the world and society. This was happening because of new methods and discoveries that were achieved in the Scientific Revolution in the 16th and 17th centuries. This created a snow ball effect, small discoveries led to bigger ones and before the world knew if two centuries of philosophy and innovation had occurred. Things that probably had a huge impact where earth science and astronomy. Examples of is this the armillary sphere. It is an instrument that models the celestial sphere with respect to the horizon of an observer. It is made up of rings representing the great circles on the celestial sphere such as the horizon, the celestial equator, the colures and the ecliptic. They can be adjusted to any latitude and can be used either as an instrument of observation or as a tool of demonstration. This tool helped aid in navigation. Because of this tool people were able to navigate farther at sea. This exposed to people to new things. Creating the desire of things that people normally wouldn?t have. One can only associate this with a better life. Trade was created opening up more wealth for people. Because of things like this...
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...Prior to the conflict between the American colonists and the English throne, the American colonies experienced many changes that reformed their way of life from the time they first set foot in the New World. After being discovered by Christopher Columbus in 1492, colonists began to cross the Atlantic Ocean in hopes of riches, religious freedom, and many other reasons. The average age of the colonists was seventeen before the revolution. A seventeen year old is very rebellious, and when the British throne mistreated them, they stood up to fight. However, before the revolution, colonial society was different before the revolution. The different aspects of the colonial society included: mercantilism and the Navigation Acts, women in colonial...
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...Matthew Jensen Mr. Vitale British Lit 23 March 2015 British Control of the Bullion Mercantilism started around three hundred years ago for the wealth of the mother nation. The British government wanted colonies because colonies would increase their wealth and power. The thought was that no great nation would be able to exist and survive without colonies. In the beginning of the 17th century, mercantilism was becoming a popular economic theory in the British Empire. However, this is not the first time in history that mercantilism shows up. This economic policy appeared in France as a state intervention, which would protect the domestic merchants and manufactures. The origin of this economic policy comes from a man named Adam Smith....
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...Introduction Mercantilism is the main economic system used during the sixteenth to eighteenth centuries. The main goal was to increase a nation’s wealth by imposing government regulation concerning all of the nation’s commercial interests. It was believed that national strength could be maximized by limiting imports via tariffs and maximizing exports. Mercantilism dominated the major European trading nations. This “mercantile system” based on the premise that national wealth and power was best served by increasing exports and collecting precious metals in return. It superseded the medieval feudal organization in Western Europe; especially in the Netherlands, France and England. Domestically, this led to some of the first instances of significant government intervention and control over the economy and it was during this period that much of the modern capitalist system was established. Internationally, mercantilism encouraged the many European wars of the period and fueled European imperialism. Historical Background of Mercantilism: Mercantilist held that a nation’s wealth consisted primarily in the amount of gold and silver in its treasury. Accordingly Mercantilist government imposed extensive restriction on their economics to ensure a surplus of exports over imports. That system thinks that if one country had more gold than another, it was necessarily better off. Such ideas were attractive to some government, such as Britain, French. There are some amusing stories of mercantilism...
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...Mercantilism is the policy that Great Britain, France, and Spain used with their colonies to try and gain economic prosperity. In essence, the colonies would provide the raw materials to be sent the mother country where they would be manufactured and then bought back by the colonials. This allowed the mother countries to effectively create a captive market where there was no competition and they could control prices. The mother countries also worked to export more than they imported, essentially trying to make the nations self-sufficient and amass wealth. While all three nations practiced mercantilism with their respective colonies, they each approached the policy differently. Both in France and Spain, the wealth accrued by mercantilism was held by the Catholic Church and nobility. France applied mercantilism through...
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...Define Colonialism (Western) Colonialism: A political-economic phenomenon whereby various European nations explored, conquered, settled, and exploited large areas of the world. The purposes of colonialism included economic exploitation of the colony's natural resources, creation of new markets for the colonizer, and extension of the colonizer's way of life beyond its national borders. In the years 1500 – 1900 Europe colonized all of North and South America and Australia, most of Africa, and much of Asia by sending settlers to populate the land or by taking control of governments. The first colonies were established in the Western Hemisphere by the Spanish and Portuguese in the 15th – 16th centuries. The Dutch colonized Indonesia in the 16th century, and Britain colonized North America and India in the 17th – 18th centuries. Later, British settlers colonized Australia and New Zealand. Colonization of Africa only began in earnest in the 1880s, but by 1900 virtually the entire continent was controlled by Europe. The colonial era ended gradually after World War II; the only territories still governed as colonies today are small islands. http://www.answers.com/topic/colonialism#ixzz1lYMQdYfY http://en.wikipedia.org/wiki/Colonialism Colonialism is the establishment, maintenance, acquisition and expansion of colonies in one territory by people from another territory. It is a process whereby the metropole claims sovereignty over the colony, and the social structure...
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...What major prerequisites allowed the industrial revolution to begin in Britain? Somewhere between 1740 and 1780, Britain experienced a series of rapid economic and social changes. This was to be the beginning of the Industrial revolution. Whilst this revolution would spread to other major countries around the world, it is undeniable that it all started off in Britain. There are many reasons for this, and it is important to note that there was nothing particularly unique about Britain in comparison with the rest of Europe, it was simply a combination of factors came together at the right time for Britain and allowed it to gain a head start in its own industrial revolution. One of the reasons why Britain’s industrial revolution began first actually has a large element of luck involved. Britain was very fortunate in that it had a large amount of natural resources, especially coal, that could be mined. This meant that Britain did not have to rely on foreign trade in order to manufacture their own goods, they could simply mine it for themselves. Iron was another natural resource that Britain was lucky to have in abundance. Both coal and iron would prove to be crucial in the construction of railways, which were vital for transporting resources, goods and people around the country at a much faster rate than had previously been possible. Coal and iron would also be required to build and, subsequently, fuel the factory machines that would manufacture all of Britain’s industrial goods...
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...overwhelmingly privately owned and operated for profit, decisions regarding investment of capital are made privately, and where production, distribution, and the prices of goods, services, and labor are affected by the forces of supply and demand. (Capitalism: Wikipedia) Both the above definitions posit a number of central factors that are prominent in the history of capitalism. The first and most obvious aspect of the capitalistic ethos is the concept of personal profit. This aspect is aligned with the central concept of private ownership and the determinations of the labor market. The roots of the theory of capital as we knew it today evolved during the 18th and 19th centuries and were formed primarily in the context of the industrial revolution and European imperialism. (Capitalism: Wikipedia) There are various theories about the history and emergence of capitalism. One of these, which has proven to be controversial, is the view that there are three periods of capitalism known as early, middle, and late periods. Other theories of the historic evolution of capitalism assert that capitalism is a social aspect that cannot be bound by any particular time period. " Some philosophers consider capitalism not a time-bound practice or a historical era at all, but the recognition of some timeless elements of the human condition." (Emergence of early capitalism) The common consensus however is that the history of capitalism began with the...
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...Precipitating the American Revolution The colonies’ quickly growing economy made declaring independence an inevitability, especially after the Seven Years’ War, when Britain started to impose taxes on the colonies to regain the losses incurred during the war. The timing and severity of new policies enacted by the Crown and Parliament, starting with the Sugar Act of 1764 and ending with the Intolerable Acts of 1774, gave almost every colonist a common grievance, expediting the process of colonial unity against British rule (Walton/Rockoff 2010, pp. 93-107). Joseph D. Reid, Jr., a professor in economics, concludes in his paper that “conflict over economic issues best explains the length, intensity of, and participation in protest by the colonists” (Reid 1978, pp. 81-100). English mercantilism explains why Parliament passed certain taxes for the colonies. The goal of mercantilism was to achieve power and wealth for the state by acquiring large amounts of specie, and the mercantilists wanted to use legislation to regulate the economy in a way that helped Britain more than the colonies (Walton/Rockoff 2010, pp. 93-107). The Navigation Acts of 1651 set the stage for the revolution to come almost century later, although the Navigation Acts themselves were not all bad. In fact, the colonists were some of the lightly taxes people in the world (Reid 1978, pp. 81-100). However, the acts that followed infuriated the colonists. After the repeal of the Stamp Act of 1765, Charles Townshend...
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...Given the relative weakness of the 16th century Europe, how do we account for the fact that European nations came to dominate most of the world by the end of the 19th century? In the 16th century, majority of the population in Europe was living in poverty. Europe paled in comparison to the great empires of the Ming, Ottoman and Mughal. Though Portuguese and Spanish represented Europe civilization to set sail and explore new lands in search of new settlements and viable trade routes, the Chinese empire lead an expedition of a massive scale larger than ever known earlier than that time with a different motive. Such expeditions imply these major empires could be suitable candidates for world domination. However, they became insignificant in the world politics arena due to internal declines and isolation. Strong and impregnable as they seem, these great empires had their weaknesses and suffered downfalls due to inefficient government and inadequate resources. The Ottoman Empire has expanded beyond what its resources could sustain. Coupled with widespread corruption and incompetent leadership, the empire’s armies suffered and became vulnerable to its Christian and nomadic rivals. The Mughal empire leader Aurangzeb, expanded his empire in name of purifying Islam hence weakening alliances with Hindu princes and disrupted the already fragmented social order. With focused expansion of territory using obsolete armies and tactics, the empire was drained of its wealth and fell when civil...
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...Awakening, there was an explosion of different denominations that divided the population substantially. People began to move away from state churches and started embracing the idea of freedom of religion. Many revivalists criticized state churches as a regulated version of true faith, and founded their own churches. These protests were especially heard from the lower classes, who loved the idea of separating from the wealthy state churches. State churches slowly began to dissolve as a result following the end of the American Revolution. 2. The French and Indian War was an expensive blow financially to the British, so much so that they left the colonists to fend for themselves in the final battles. As a result of this, the royal crown passed tax after tax on the colonies and strictly enforced them as well. This was odd considering they were used to a system of salutary neglect. The colonists cried “No Taxation without Representation” and the seeds of revolution were planted. It only required a little push after that and the Declaration of Independence would be drafted. The French and Indian war was dubbed “the Great War for Empire” because the French were known at the time as the “Empire of France”, and this war would essentially be an attempt to push the French empire out of the new world. 3....
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...Ricardo Davila Modern Europe Professor Hagai M. Segal September 29, 2015 Why Free Trade is Superior to Mercantilism The Industrial Revolution brought great success to the British Empire. It helped establish the Empire as one of the leaders (if not the strongest) of the European powers that would colonize lands all over the globe. By the end of the 18th century, Britain had amassed global economic power, and needed to regulate it somehow. The British government's plan of action was to enforce regulations on trade in order to keep control of what was produced, and what would benefit the motherland most. Adam Smith, arguably the most influential economic theorist in modern history, coined this system as 'Mercantilism,' and felt it was not optimal. Economic development and growth is inhibited by the mercantile system because resources are not allocated for maximum efficiency. For Smith, natural tendencies for exchange rooted in the self-interest of individuals would lead to an improved standard of living. Mercantilism was situational. As described by the Library of Economics and Liberty, it is a "system of political economy that sought to enrich the country by restraining imports and encouraging exports." Economic nationalism is another way to perceive it. The system originated in the 16th century when European powers began fighting over resources, often leading to armed conflict between each other (LaHaye, 2004). The objective of the mercantile system was to sustain a trade...
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