1. Do Now
Take notebooks from the front table. I will need them back at the end of the period.
Make a new section called “Aspects of Society – Economy”

2. Sequence
This week/next week: finish looking at enlightenment and absolutism.
Next week: start working on our final paper for the semester, look towards final exams.
Finals: 18th-20th
After finals: The Age of Revolution!
French Revolution
Haitian Revolution
1848: the Year of Revolutions

3. Revolution
Quick Definition: A dramatic change in one or more aspects of society.

4. Kinds of Revolution
In order from least significant to most significant:
Cultural
Political
Economic
Social/societal

5. Kinds of Revolution
Cultural: a dramatic change in how people interact or perceive certain issues.
Political: a dramatic change in how the government functions.
Economic: a dramatic change in how money and resources are dispersed, acquired, or traded.
Social/societal: a dramatic change in the fundamental framework of society.

6. The enlightenment gave revolutionary beliefs to the first 3 aspects of society: cultural, political, and economic.
We’ve already studied the political and cultural aspects. Today we will be looking at the economic aspect.

7. What is an economic system?
A method by which the resources and services available to a society are distributed.
Simplest Examples:
Palace Economy: all/most resources and services flows into a centralized bureaucracy where it is then redistributed as needed. State-driven.
Communism: resources are redistributed more or less equally. Equality-driven
Capitalism: resources and services are distributed to those who can afford them. Profit-driven.

8. Mercantilism vs Capitalism
The absolutists rested their empires on an economic system called “mercantilism” and its younger brother “bullionism.”
Mercantilisist nations try to acquire as much wealth as possible
Enlightenment thinkers starting with Adam Smith suggested a different kind of economic system called “Capitalism”

9. Assignment: Mercantilism Investigation
You will use any internet resources you like to answer the following questions in detail:
Summarize mercantilism.
What was the goal of mercantilism?
What was done to achieve this goal?
What were advantages of mercantilism?
What were disadvantages?
How does mercantilism differ from capitalism?