Chapter 17
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
