...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, government, and economics of the colony are changed by colonizers from the metropole. Colonialism is a set of unequal relationships between the metropole and the colony and between the colonists and the indigenous population. The colonial period normally refers to the late 15th to the 20th century, when European states established colonies on other continents. During this time, the...
Words: 2538 - Pages: 11
...Mercantilism is an economic theory practice, commonly used in Europe from the 16th to the 18th century that promoted governmental regulation of a nation’s economy for the purpose of augmenting state power at the expense of rival national powers. It was the economic counterpart of political absolutism.[1] It includes a national economic policy aimed at accumulating monetary reserves through a positive balance of trade, especially of finished goods. Mercantilism dominated Western European economic policy and discourse from the 16th to late-18th centuries.[2] Mercantilism was a cause of frequent European wars and also motivated colonial expansion. Mercantilist theory varied in sophistication from one writer to another and evolved over time. High tariffs, especially on manufactured goods, are an almost universal feature of mercantilist policy. Other policies have included: Building overseas colonies; Forbidding colonies to trade with other nations; Monopolizing markets with staple ports; Banning the export of gold and silver, even for payments; Forbidding trade to be carried in foreign ships; Export subsidies; Promoting manufacturing with research or direct subsidies; Limiting wages; Maximizing the use of domestic resources; Restricting domestic consumption with non-tariff barriers to trade. Mercantilism in its simplest form was bullionism, but mercantilist writers emphasized the circulation of money and rejected hoarding. Their emphasis on monetary metals accords with...
Words: 4905 - Pages: 20
...2013 “Navigation Acts” The Navigation Acts were a series of acts passed by the English Parliament during the seventeenth century to protect England’s trade an prevent the American colonies from directly trading with foreign countries or other colonies. The Navigation Acts, in English history, was a name given to certain parliamentary legislations, more properly called the British Acts of Trade. The acts were an outgrowth of mercantilism and followed principles by Tudor and early Stuart trade regulations. Mercantilism was an economic system of the major trading nations during the 16th, 17th, and 18th centuries, based on the premise that national wealth and power were the best served by increasing exports and collecting precious metals in return. Mercantilist nations were impressed by the fact that the precious metals, especially gold, were in universal demand as the ready means of obtaining other commodities. The tended to identify money with wealth. As the best means of acquiring bullion, foreign trade was favored above domestic trade, and manufacturing or processing, which provided the goods for foreign trade. State actions were the essential feature of the mercantile system, which was used to accomplish its purpose. Under the mercantilist policy a nation sought to sell more than it bought so as to accumulate bullion. There was a rise in Dutch carrying trade, which threatened to drive English shipping from the seas, and was the immediate cause for the Navigation Act of 1651,...
Words: 915 - Pages: 4
...Assignment on Mercantilism and Physiocracy PACourse Code: PA-511 Course Title: Public Administration Theories and Problems Submitted To: Md. Mashiur Rahman Assistant Professor Department of Public Administration Comilla University Submitted By: Md. Nazmul Haq Student of MSS Session: 2010-11 Class ID: 005 Department of Public Administration Comilla University Date of Submission: 5th February, 2013 Department of Public Administration Faculty of Social Science Comilla University Mercantilism and Physiocracy Acknowledgement In the beginning, I exert my gratitude towards Almighty Allah that I have done this great job. Then thanks to my honorable course teacher Md Mashiur Rahman that he has made the opportunity for me to do a work on such intellectual course contents. I think, in the way of accomplishing this assignment I have earned a lot of knowledge about Mercantilism and physiocracy and it is great achievement for me for sure. This assignment also has taught me about the historical knowledge of economic nature of different states in middle age.. Finally I want to get rid of my mistakes that age may be occurred in preparing this assignment such as spelling or occurred printing mistakes with the merciful mind of my course teacher Md. Mashiur Rahman.. Rahman Md. Nazmul Haq Class Roll-005 2|Page Mercantilism and Physiocracy Table of Contents Topics 1. Introduction 2. Mercantilism 2.1 Factors that Gave Rise to Mercantilism 2.2 Representative Mercantilists...
Words: 7595 - Pages: 31
...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 surplus, while maintaining high employment...
Words: 1226 - Pages: 5
...Artifacts 27. Economic indicators Goal 2 28. Sustainability – supported,upheld ,of confirmed 29. Fertile Crescent – an area in the middle and near east: formerly fertile, now partly desert 30. Migration - a number or body of persons or animals migrating together. 31. Environment – the aggregate of surrounding things,conditions,or influences;surroundings; milieu 32. Human interdependence – all humans rely on each other. 33. Natural barriers – a natural limit or boundary of any kind. 34. Drought – a period of dry weather that whithers or kills the crops 35. Famine – extreme hunger or scarce amount of food. 36. Trade interactions -the influence of buying or selling trade with other countries. 37. Resources – a source of supply,support,or aid when specificity needed 38. River valley -a natural stream of water flowing in a valley between two mountains or hills. 39. Dikes – embankment for controlling or holding back the waters of the sea or a river. 40. Communication chain – the act or process of communicating through a chain. 41. Trading network – a net like combination for trading. 42. Nomadic – pertaining to, or characteristic of nomads. 43. Exports – to ship commodities to other countries for trading or...
Words: 2180 - Pages: 9
...and it’s people; usually born into power 2. Age of Reason-18th century movement that followed after the mysticism, religion, and superstition of the Middle Ages 3. Agrarian-cultivated land; person who advocates a redistribution of landed property, especially as part of a social movement 4. Akbar The Great (Mughal India)-Mughal emperor from 1556-death; extended power over most of India Continent; united Muslim and Hindu peoples with his policy of religious cooperation 5. Atheists-person who lacks the belief in the existence in God’s or a God 6. Batavia, Indonesia-Fort established in 1619 as headquarters of Dutch East India Company operations in Indonesia; today the city of Jakarta. 7. Calvin, John-1509-1564. French theologian. Developed the Christian theology known as Calvinism - believed in predestination and a strict sense of morality. Attracted Protestant followers with his teachings. 8. Cash Crop-readily salable crop that is grown and gathered for the market (vegetables, cotton, tobacco) 9. Circumnavigation- travel all the way around the Earth 10. Colonization-physical process whereby the colonizer takes over another place, putting its own government in charge and either moving its own people into the place or bringing in indentured outsiders to gain control of the people and the land 11. Columbian Exchange- The exchange of plants, animals, diseases, and technologies between the Americas and the rest of the world following Columbus's voyages...
Words: 2104 - Pages: 9
...The Age of Exploration was a era from the early 15th century to the late 17th century, in which European explorers searched for better trade routes to support the growth of capitalism. During this time, countries were conquered by the English, Spanish, Portuguese, French, and the Belgians (Main ones). The natives of these countries would suffer unimaginable atrocities against them. Conquerors would enslave them, kill children, kill them, and just generally be aggressive for dominance. The Age of Exploration had adverse effects on conquered lands such as destruction of culture and the mass genocide of natives. However, it pushed the development of modern civilizations and fueled the rise of capitalism. In 1492, Christopher Columbus found...
Words: 1022 - Pages: 5
...discovered and claimed land and passage ways for travel and trade. Once Europe knew about explosives, guns and canons helped Western Europe conquer other lands. During the Ming Era in China there were vast growth in population, commerce, agriculture, and expansion. Admiral Zheng He led seven major overseas expeditions. Matteo Ricci and Adam Schall were Jesuit scholars that showed Chinese scholars Christian...
Words: 844 - Pages: 4
...MERVE DENİZ 13735009 How the Renaissance, Reformation and Nation-States Contributed to the Concept of European Identity? 1. Introduction I would like to study the connection between the material culture that sprang to life after the Reformation in Europe and the urbanization that came with the Industrial Revolution in order to see if or if not it had any effects on constituting the European Identity. Starting first with analyzing the material culture of which the Italian Renaissance movement and then the Reformation planted its seeds, I want to follow the dynamics of social changes that slowly transformed the life in Europe from peasantry with only the Christian identity to nation-state citizenship with a European notion. In order to understand how the Industrial Revolution that started in the 19th century and spreaded across the continent affected Europe, it is first required to analyze the changes in the mentality of people that lived in Europe and the transformation the societies went through as a result of the Protestant Reformation that took place in the 16th century. Although the Industrial Revolution had basically been a drastic economic upheaval, it cannot be considered without its social causes and social results. How the humanist mindset that came up with the Renaissance had affected the daily lives of people and how this effect helped people to search for improvements in working and production have been widely discussed...
Words: 1984 - Pages: 8
...food and resources in the islands. To do this, the Spaniards instituted revenue-generating measures such as systematic taxation and compulsory sale of agricultural products to the colonial government. Later, having been introduced to better farming equipment, the natives were able to practice a more intensive form of agriculture that enabled them to sell to Chinese traders at higher market prices and fulfill their tax requirements. The 16th century galleon trade and a war against the Dutch, both of which required a vast array of construction materials and manpower, put an enormous strain on food and supply requirements and prompted colonial authorities to implement more coercive taxation and forced labor. By the 17th century, a survey of Manila provisions revealed growing mercantilism and a stable food supply owed to improved trading and surplus from trade and friar farmlands. No longer dependent on galleon trade, new patterns of consumption, foreign demand for agrarian resources and a legitimate labor market at the beginning of the 19th century signaled the era of modernization and growth for the Philippine economy. During its occupation of the Philippines, Spain pressed for improved food production, the development of indigenous agricultural resources and the commercialization of the local economy, to maintain effective control over the Asian colony. In what way and by what strategies Spain attained these objectives are the subject of this paper, which is based on historical...
Words: 6479 - Pages: 26
...incorrect work will result in a zero for the whole packet. Unit 4 Vocabulary Terms Quiz #1 1. Scientific Revolution (p. 410) 2. heliocentrism (p. 410) 3. sacrament (p. 396) 4. Renaissance (p. 405) 5. bourgeoisie (p. 413) 6. republic (p. 422) 7. Protestant Reformation (p. 406) 8. Jesuit (p. 409) 9. joint-stock companies (p. 415) 10. mercantilism (p. 468) Quiz #2 1. caravel (p. 384) 2. conquistadors (p. 394) 3. Columbian Exchange (p. 431) 4. maritime (p. 402) 5. manumission . (p.467) 6. coerced labor systems (p.475) 7. plantation cash crop (p.470) 8. tariffs (p.469) 9. indigenous (p.393) 10. encomiendas (p. 439) 11. serfs (p.529) 12. mestizo (pp. 442 – 45) Historical Thinking Skills: Periodization, Causation, Contextualization Timeline Exercise: Annotate the timeline with two facts about the important effects of each event Unit 3: 1450–1750 (Early Modern) 1453 Ottomans captured Constantinople; end of Byzantine 1450s Gutenberg’s Printing Press; Portuguese expand trade in West Africa: Benin, Kongo 1483 Babur conquered northern India, and founded the Mughal Empire 1492 Reconquista completed; Columbus claimed Americas for Spain 1498 Vasco da Gama attacked Calicut 1517 Martin Luther posted 95 theses...
Words: 8917 - Pages: 36
...trade Trade is the transfer of ownership of goods and services from one person or entity to another. Trade is sometimes loosely called commerce or financial transaction or barter. A network that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and services. Later one side of the barter were the metals, precious metals (poles, coins), bill, paper money. Modern traders instead generally negotiate through a medium of exchange, such as money. As a result, buying can be separated from selling, or earning. The invention of money (and later credit, paper money and non-physical money) greatly simplified and promoted trade. Trade between two traders is called bilateral trade, while trade between more than two traders is called multilateral trade. Trade exists for man due to specialization and division of labor, most people concentrate on a small aspect of production, trading for other products. Trade exists between regions because different regions have a comparative advantage in the production of some tradable commodity, or because different regions' size allows for the benefits of mass production. As such, trade at market prices between locations benefits both locations. Retail trade consists of the sale of goods or merchandise from a very fixed location, such as a department store, boutique or kiosk, or by mail, in small or individual lots for direct consumption by the purchaser.[1] Wholesale trade is defined as the sale of goods...
Words: 2539 - Pages: 11
...HISTORY OF FISCAL ADMINISTRATION AND THE THEORY AND PURPOSE OF TAXATION Introduction Fiscal Administration is not difficult to define. In simple terms, fiscal administration is the branch of economics that deals with the revenues and expenditures and their impact on the economy. It is the manner of collecting something from the constituents and spending it also for the constituents. And the exact definition according to http://www.wisegeek.com/what-is-fiscal-administration.htm, fiscal administration is the act of managing incoming and outgoing monetary transactions and budgets for governments, educational institutions, nonprofit organizations, and other public service entities. Constituents charge leaders, whether governmental or organizational, with establishing fiscal policy as part of their duties in relation to responsible fiscal administration. Fiscal policies are tools for the development of fiscal planning budgets, based on the receipt of anticipated funding. As fund disbursement in the form of payroll, purchases, or other expenses occur, management reports appropriate accounting information back to organizational leaders. Historical data, future revenue projections, and current budget demands determine needed adjustments. The entire process forms the basis for future fiscal administration decision making. Leaders of government, nonprofits, and other public service entities have a fiduciary responsibility to those who put them in office, individuals...
Words: 3017 - Pages: 13
...civilizations. Notable writers from antiquity through to the 14th century include Aristotle, Xenophon, Chanakya (also known as Kautilya), Qin Shi Huang, Thomas Aquinas, and Ibn Khaldun. The works of Aristotle had a profound influence on Aquinas, who in turn influenced the late scholastics of the 14th to 17th centuries. Joseph Schumpeter described the latter as "coming nearer than any other group to being the 'founders' of scientific economics" as to monetary, interest, and value theory within a natural-law perspective. Two groups, later called 'mercantilists' and 'physiocrats', more directly influenced the subsequent development of the subject. Both groups were associated with the rise of economic nationalism and modern capitalism in Europe. Mercantilism was an economic doctrine that flourished from the 16th to 18th century in a prolific pamphlet literature, whether of merchants or statesmen. It held that a nation's wealth depended on its accumulation of gold and silver. Nations without access to mines could obtain gold and silver from trade only by selling goods abroad and restricting imports other than of gold and silver. The doctrine called for importing cheap raw materials to be used in manufacturing goods, which could be exported, and for state regulation to impose protective tariffs on foreign manufactured goods and prohibit manufacturing in the colonies. Physiocrats, a group of 18th century French thinkers and writers, developed the idea of the economy as...
Words: 3243 - Pages: 13
