GGRA02H3 Lecture Notes - Indentured Servant, Subsistence Agriculture, Profit Motive
Document Summary
It was born when the wall fell in 1989 many world markets are only recently freed the spread of free markets and democracy around the world is permitting more people everywhere to turn their aspirations into achievements. And technology has the power to erase not just geographical borders but also human ones . Greek and roman empires long-distance exploration innovation and trade war and conquest mapping land clearance and irrigation first cities. Early global economy based on trade across asia, africa and much of. Also known as the islamic renaissanec artists, engineers, scholars, poets, philosophers, geographers and traders which spread the influence of islamic knowledge and commerce. Begins to emerge at the end of the 15th century. Economic system based on a free market, open competition, profit motive and private ownership of the means of production (private property), and the exploitation of the surplus values of land (resources) and labour.