Presentation on theme: "1450 CE – 1750 CE Era of Global Interaction! Chapter 16 & World Economy 1 Classical 1450 CE – 1750 CE Ancient 1750 CE10,000 BCE1000 BCE Postclassical."— Presentation transcript:
1450 CE – 1750 CE Era of Global Interaction! Chapter 16 & World Economy 1 Classical 1450 CE – 1750 CE Ancient 1750 CE10,000 BCE1000 BCE Postclassical
Middle East in 1400 ► Loss of trade revenue & agricultural productivity Peasants slip into serfdom Turn increasingly toward faith & away from science for answers ► Abbasid, Mongol, & Byzantine collapse creates power vacuum
China in 1400 ► Ming dynasty initially focuses on re- establishing borders & influence Example: Zheng He
China in 1400 ► Foreign influence ended in favor of internal development Economy, industry, & agriculture Emphasis on tradition & Neo-Confucianism
India in 1400 ► Timor & Mongol descendants led to broad Islamic empire, Mughal
Europe in 1400 ► Contact & exchange bred curiosity Renaissance fosters spirit of exploring world Wealth focused in Italian city-states expanded international trade, banking, art ► Monarchy & commerce strengthening Reconquista of Spain drives out Muslim kingdoms
Global Connections Muslim trade & Indian Ocean-based trade ↓ Mongol moment & land-based trade ↓ Return of sea trade & Chinese moment ↓ Leadership shifting toward Europe
Chinese compass & explosives Chinese sternpost rudder Arab lateen sail Arab portolan charts & maps A Shift – Why? New Technology: Key to Power Europe v. China
Technology in Iberia New sturdier ships –Needed for ocean travel –Experience in N.Atlantic vs. Med Maneuverability –Added a rudder Sails –Combined square & lateen sails to advance in uncooperative winds
Technology in Iberia Navigation instruments Astrolabe / cross staffs Compass Winds & currents Volta do mar
Exploration → Truly Global Network Result: –Columbian Exchange massive swap of people, diseases, plants, & animals b/t New World & Old World upon arrival of Christopher Columbus. Luxuries → Exploration Desire for luxuries helped fuel European exploration –Discovery of New World
The world economy & developments in Western Europe are connected!
Early Modern W. Europe - Pre-Test £ Put the following developments in chronological order & give a brief description Enlightenment = Renaissance = Scientific Revolution = Protestant Reformation =
Commercial Revolution £A time of internal economic growth in W. Europe as it became more trade-based £Standard of living improved
Economics?Economics? 1.What is “economics”? 2.What are some basic principles of economics?
W. Europe’s Postclassical Economy? 1.Manorialism £Subsistence farming = serfs £Lords live off of taxes £“Old Money” based on landownership and tradition 2.Small guilds develop to encourage artisanry
W. Europe’s Commercial Revolution …based on new theory: Mercantilism –A policy that encouraged nations to maximize exports and minimize imports Meant colonized ports could only trade w/ mother country –Europe buys raw materials ($) –Europe sells manufactures ($$$)
Mercantilism & Results in Europe –Colonial markets led to more manufacturing in W. Europe
New Manufacturing Demands in Europe Met through… £ £Cottage Industry (also called Proto-Industrialization & Putting-Out System) Production of cloth in rural areas Done by farmers in winter months Supplemented rural income Merchants amassed capital & avoided guilds
New Manufacturing Demands in Europe Met through… £ £Cottage Industry (also called Proto-Industrialization & Putting-Out System) Production of cloth in rural areas Done by farmers in winter months Supplemented rural income Merchants amassed capital & avoided guilds £ £Urban manufacturing improved by technology Metal working, pottery, shoemaking
Mercantilism & Manufacturing Investment in cottage & urban manufacturing due to… £ £Inflation £ What is inflation? £ Why was there inflation in early modern Europe? £ Why would inflation encourage investment? Money in 1550 would buy less in 5 years, so merchants invested in manufacturing
Commercial Revolution in Western Europe £ New sources of income for: Governments Banks Merchants Farmers Pre-1450: Life similar to E. Europe Pre-1450: Life similar to E. Europe 1450-1750: peasant families had 5x more stuff than E. Europeans 1450-1750: peasant families had 5x more stuff than E. Europeans
Exploration, Columbian Exchange, Mercantilism, & Commercial Revolution …in World Economy New economic patterns (not able to move inland, but) –Slave trade Intensifies mercantilism & dependency –New World plantation economies Intensifies mercantilism & dependency –exception: Gunpowder empires: China, Ottomans Silver?
Reflect… How are the world economy and developments in Western Europe connected?