HISA04 Nov. 7
Pirates and Privateering
Privateers: sanctioned by states/government
English Navigation Act of 1651
The Dutch did not establish extensive colonial presence in Americas, but profited
from shipping goods across the Atlantic to Europe.
o Dutch were often referred to as “universal carriers”
The Navigation Act stated that only English ships could carry goods between
English colonies and England
o This freed the English from the control of the Dutch
Protected English merchants and shippers from the Dutch
Gave them an excuse to retaliate against Dutch and French
Treaty of Westphalia (1648)
Ended the Thirty Years War (1618-1648) and the constant warfare between
Protestants and Catholics since the beginning of Reformation.
Established modern state system and the norms of state sovereignty: countries
were allowed to rule however they wanted, as long as it was within their own
o States are the fundamental actors in the world system.
o Each state enjoys inviolable sovereignty.
o No state has the right to intervene in the affairs of another state.
This term is used to talk about financial ‘bubbles’ – inflation that continues until it finally
The Global Financial Crisis of 2008 The American Housing Bubble
In 1637 in Holland, it is said that a single tulip bulb was sold for a price as high as that
of? A house. HISA04 Nov. 7
However, the prof said this data came off Wikipedia, so it is probably
exaggerated and/or untrue.
Wikipedia correctly points out that British journalist Charles Mackay popularized
“Tulipmania” in his 1841 book Extraordinary Popular Delusions and the Madness
of Crowds. He claimed that 12 acres of land were offered for a Semper Augustus
Wikipedia, however, is wrong in claiming that prices really got high enough and
financial speculation intense enough to qualify as true tulipmania.
Some qualifying comments on the wiki even point this out.
Problems to be aware of with Wikipedia:
Spreading of incorrect information.
Difficulties in determining which historical sources are reliable.
Tulipmania began in Holland, in 1637.
Could also be a representation of the woman‟s beauty,
while comparing it to the tulip
This a flower called Se