Dutch Republic

United Provinces of Netherlands

7 provinces of Union of Utrecht formed United Provinces of Netherlands; Peace of Westphalia confirms independence; constitutional republic; confederation->weak union of strong estates; high standard of living

Fishing Industry

Cornerstone of economy initially; spurred ship building; mass building created formidable merchant marine that offered cheapest rates and highest quality in all of Europe; other powers get pissed off at being ripped off

Grand Strategy

Did not settle large colonies (did not have the population); picked strategic spots with vast raw material supplies and trading convenience; buy resources in bulk to minimize cost

Estates

Each province led by oligarchy of regents (wealthy merchants); handled domestic affairs

States General

Federal branch; handled foreign affairs; checked by Estates; appointed head executive (stadholder) in each province for ceremonial function

Dutch East India Company

Joint stock company (combined capital for minimal risk); later started Dutch West India Company

Holland

Powerful navy; Amsterdam financial capital of Europe; dominated states general; Amsterdam great for cheap and accessible loans (guaranteed by govt.); first stock exchange

Values

Protestant work ethic (thrift, hard work, simplicity); power with middle class; religious tolerance-> attracts all types of people

Decline

War w/ France, England and then War of Spanish Succession drains resources and power