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lecture 5

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Political Science
POLI 354
Mark Brawley

Lecture 5 POLI 354 Wednesday, September 19, 2012 The Economic Take Off of Europe Why did Europe take off economically in the long 16 century?  Pretty much doing the same economically as the rest of the world  mid 1600s Europe is main focus before talking about North America later Why did capitalism emerge as the dominant form of economic organization? Why was mercantilism the main international economic policy adopted almost everywhere in Europe?  As trade grows mercantilism gets applied until early 1800s Europe in the 15 century  Changing the relations between capital, land and labor  Europe becomes richer and starts to use capital  Feudalism  Political order gets lost  No recognized forms of money  Cities survive as independent political actors  Fall back on local production- cant travel that fare for trade  Living on basic needs  Institutions are not terribly flexible  What you are born into is your faith  System works in providing basics  Inside fortifications allows you to be autonomous politically  Political authority fragmented to very local levels  Trade is very difficult  Economy not monetized  Very hard to trade  Have to look for exact interchange  Double coincidence of needs  Wool Europe economic take off Spain and Portugal centralize under monarchs  Convincing economics nobles to pool resources- they do so because they are fighting against Muslim kingdoms in the south  Start sending armies and hear appeals about exploration and engage in trade  Needed silk and cotton but can only be found in China and India; need for spices Exploration  Christopher Columbus  Spain has money to spend and funds expedition to America Inflow of gold and silver  Encourages other Spanish explorers to go as well  Cortez-Aztecs  Pizaro- Incas  Nobles and merchants are going to benefit  Increase in money supply in Europe Merchant class arises  Shift of wealth from Italian city states to ports in Atlantic coast  Tobacco from Americas  Star b
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