EC 045 Lecture Notes - Lecture 7: Encomienda, Mercantilism, Hierarchical Organization

• School: University of Vermont
• Department: Economics
• Course: EC 045
• Professor: Catalina M Vizcarra

Document Summary

The economic institutions in the new world were heavily reliant on mercantilist views: trade regulation in spanish america, the house of trade (seville), the main trade regulatory agency. Licensed and supervised all ships, passengers, crews, and goods passing to and from the indies: commerce with the colonies restricted to the wealthiest merchants of seville and cadiz. Colonies could only trade with the mother country: trade was concentrated in a few american and spanish ports: Veracruz in new spain, cartagena in new granada, and. Seville in spain: trade between colonies banned for some of the period, mercantilist policies did not work in the long-run. Indian communities were required to provide one seventh of their male labor force at any given time for public works, mines and male labor force at any given time for public works, mines and agriculture. Hierarchical organization of society and politics: center of power in iberian peninsula: king and council of the.