THE COMMERCIAL REVOLUTION 1500-1700roots in the middle agespopulation growth“price revolution”states sought to increase economic powerrise in capitalismentrepreneursemerging capitalism = private property,

profits, free enterprise

The Price Revolution = inflation

Prices go up -> wages don’t go up as fast -> greater profits for businesses

profits = money made minus costs

THE MONEYLENDERAND HIS WIFE WINE MERCHANTS

New type of economic thinking beginning in the 17th century –

1. BULLIONISM = countries should stockpile gold and silver

2. Export more than you import3. Protect and stimulate your country’s export

industries4. High tariffs = taxes on imports5. Colonies were good -> source of raw materials +

place to sell your country’s stuff6. Construction of roads and canals7. Government should be involved in economic activity8. Economic activity should benefit the state

Europe’s overseas expansion -> international commerce

Transatlantic trade = huge profits Pepper and spices from the Indies Sugar from Brazil and the W. Indies Coffee and tea from Asia Trade begins to link Europe, Africa, the

East, and the Americas

Between 1500 and 1800 Atlantic nations of Europe move into all parts of the world

16th century = Portugal and Spain

17th century = the Dutch

End of 18th century = England

Pop losses due to European diseases Social and political structures destroyed European institutions, religion, languages,

and culture replace indigenous people’s Sexual exploitation Mestizos Mulattoes Horses New european crop -> wheat

Franciscans, Dominicans, and Jesuits led missionary/conversion work in Spanish Americas

The Missions

Hospitals, orphanages, and schools

Jesuit missionary work in China and Japan -> 300,000 converts in China

Missionaries expelled from Japan and Japanese Christians persecuted

FRANCIS XAVIER

Europeans in the Americas wanted -> riches, land, social advancement

Gold and silver

The Columbian Exchange

old world = horses, cattle, wheat

New world = potatoes, chocolate, corn, tomatoes, tobacco