Mercantilism & State Power
This economic theory argued that a nation’s wealth was measured by its stock of precious metals.
Mercantilism
This crop was central to plantation economies in the Caribbean and Brazil.
Sugar
This economic change reduced the power of feudal lords and increased wage labor.
The decline of feudalism
This major demographic trend increased demand for goods.
Urbanization/population growth
Despite the growth of commerce, this urban institution continued to regulate trade, training, and wages
Guilds.
Governments encouraged exports and discouraged imports to achieve this economic goal.
A favorable balance of trade.
This Dutch institution dominated spice trade in the Indian Ocean while participating in Atlantic commerce.
Dutch East India Company (V.O.C.)
This region maintained a largely agrarian economy with serfdom continuing into the 17th century, despite Western European commercial growth.
Eastern Europe/Brandenburg-Prussia/Habsburg Lands
This group, which included merchants, bankers, and traders gained economic power and influence, particularly in cities like Amsterdam, London, and Antwerp.
The bourgeoisie.
Under this system, European peasants continued to grow most of their own food even as some sold surplus to markets.
Subsistence farming
This system encouraged accumulation of gold and silver to make a nation self-sufficient.
Bullionism
This trade pattern involved European goods to Africa, enslaved Africans to the Americas, and American commodities to Europe.
Triangular Trade
This country led Europe in early modern banking, joint-stock companies, and the stock exchange.
The Dutch Republic
Women in rural households spun thread, wove cloth, or processed raw materials for merchants as a part of this new economic development.
The putting-out system.
This aspect of European social life persisted, with men dominating political, economic, and household decision-making.
Patriarchal social structure.
These financial innovations allowed states to borrow money for wars or overseas expansion
State banks and national debt
This precious metal from the Americas was a major source of wealth for Spain.
Silver
This English agricultural change involved fencing off common lands to increase efficiency and create market-oriented farms.
The enclosure movement.
During the Age of Enlightenment, these, held on a regular basis to discuss trends in literature, science, and philosophy, were an area in which European women could play an active role.
Salons
Despite economic change, most European economies continued to depend on this.
Agriculture.
This system granted monopolies over trade in specific regions to private companies, often supported by the state.
Chartered companies (e.g., Dutch East India Company)
This system of forced labor in the Americas demanded harsh work conditions on plantations.
Plantation System
This European trend increased the availability of consumer goods and linked rural production to urban markets.
The consumer revolution.
These laborers in the Americas became the foundation of the plantation economy.
Enslaved people.
In Europe, hierarchy and power continued to be based largely on:
owning land.