11 May 2017
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The Discovery of the New World
- Millions (90%) of Natives dies within generations due to disease within the first century.
Resources extraction and the Atlantic Trade
- The New World initially offers a new system of resource extraction and usher in the Atlantic
Society.
- New world natural resources harvested, shipped to Europe, and either sold or finished.
o Produces radical wealth and a proto-industrial system of European cities, but also
slavery.
- Urbanization, especially in port cities, and banking/joint stock companies.
- Indentured Servants
o Europeans or other foreigners who gain passage to the New Word in exchange for 8
years of work (slavery)
Emergence of Modern Nation States
- Spurred by a new urban commercial class and move towards individual rights.
- Modern nation states form that offer property laws, common currency, infrastructure, and
protection.
- Less risk facilitates economic growth: Banks ad joint stock companies
- Europe, ca. 1700
Other Nation State attributes
- Strength gained from cultural binds as well
o Similar languages
o Newspapers
o Mechanized printing
o Organized religion
o Other cultural attributes
Industrial Revolution
- 1750-1914
- Allowed for increased division of labor, urbanization, and increased focus on cash crops, and
marketization
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