Chapter 17

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Atlantic Economy

1650-1790 component of global economy established by European nations?

Percentage of African slaves that ended up in North America?

3%

Plantation System

Agricultural system in the South which relied on slave labor to work the large farms and estates

Arthur Young

An agricultural experimentalist, look on page 500

Peace of Utrecht (1713)

As a result of this Britain gained control of Spanish west African Slave Trade

Financial Revolution

Bank of Amsterdam + Bank of England adapted the dutch(bank of amsterdam's) financial system

victor of spanish war of succession and austrian war of succession

Britain

Issues with Open-Field-System

Caused soil exhaustion, stripped nitrogen from the soil

Peasant life in western Europe

Could own land and pass it down to their children. Generally free from serfdom.

Gethro Tull

Critiqued farming methods and bettered them through empirical research; invented the seed drill

system wealthy spanish landowners used to keep indigenous workers on their estates

Debt Pionage

who helped create powered looms and powered textiles

Edmund Cartright

shore method, why was it adopted?

European slave traders did this to trade more efficiently and travel faster.

Navigation Acts

Gave British merchants a virtual monopoly on trade coming from the British colonies

result of war of Austrian succession

Maria Theresa loses Silesia to Prussia but puts an end to Prussian aggression; sets the stage for later wars

1701-1763 stakes of war between Britain and France

Maritime power

spanish colonial society rankings

Peninuslares(born in spain), creoles (american born spanish), mestizos(spanish and native), mulattoes(native and african)

Adam Smith

Scottish moral philosopher and a pioneer of political economics. Seen today as the father of Capitalism. Wrote On the Wealth of Nations (1776) One of the key figures of the Scottish Enlightenment.

Peasant life in Eastern Europe

Serfdom was still common, could not own land

Proletarianization

The transformation of large numbers of small peasant farmers, into landless rural wage earners

creoles and common opinion/thought/action

They had different circumstances from traditional spanish

what treaty ended the 7 years war

Treaty of Paris 1763 between France and Britain

Putting-out system (cottage industry)

a system developed in the 18th century in which tasks were distributed to individuals who completed the work in their own homes; merchants brought materials and the artisans would make tradable materials.

Where in Europe did population growth occur in the 18th century?

cities, more farmers landless rural workers

netherlands (dutch) farming technology

crop-rotation and the plow

british indian influence rival

france

Dutch in the financial revolution

leaders in shipping, agriculture, overseas trade. Created short-term bonds which create public debt. First to develop an Insurance industry. Bank of England was modeled after the Bank of Amsterdam.

Received success as trade with colonies and Britain grew substantially

mercantilism

enclosure

movement to fence-in fields with the goal of farming more effectively

Britain owes its win in the 7 years war to

navy

portuguese and indian ocean trade

never gained complete control...naval supremacy allowed them to dominate key ports/trade routes (16th century) They did nothing to change or enhance trade.

Settlement of Australia

originally a penal colony for british criminals, then british people came to settle; renamed by james cook to new south wales.

enclosure movement

privatization of the common lands peasants used to let their animals graze and farm crops. The goal was to allow for more effective crop experimentation, as well as farm more effectively. Contributed to the increase in population and the rise of industrialization.

Jew treatment in the colonies

seen as white so they could not be enslaved

At the center of Adam Smith's arguments in The Wealth of Nations was

self-interest

guild system; who was automatically allowed in guilds

sons of masters

Public health development improved most significantly with

water and sewage systems


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