POLS 1600 Lecture Notes - Lecture 5: Primitive Communism, Communist Society, Mercantilism

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Third world: cold war term for global south. First world: cold war term for global north democracies. Second world: cold war term for soviet union and other communist countries. Colonialism the military conquest resulting in the rule of a region by an external sovereign power. Imperialism any relationship of effective domination or control, direct or indirect, of one nation over another. Neocolonialism (neo-imperialism) the economic rather than military domination of foreign countries. Mercantilism: possession of gold and silver and trade surpluses increase states" power and wealth (increase exports, decrease imports) used to take advantage of colonies. Adam smith, in his 1776 treatise the wealth of nations, argues that free trade would be more efficient and innovative than mercantilism. The idea of laissez-faire economics invisible hand is born. In 1415, they conquered ceuta, a prosperous islamic trade centre in north africa. The first portuguese colonies in the atlantic: madeira and the.

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