Week 9- Economic Expansion, Scientific Revolution, and Colonization
Week 9- Economic Expansion, Scientific Revolution, and Colonization ST 150 - 20
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This 6 page Class Notes was uploaded by Savannah Tipton on Friday October 30, 2015. The Class Notes belongs to ST 150 - 20 at Ball State University taught by John Stanley Marsh (P) in Fall 2015. Since its upload, it has received 57 views. For similar materials see The West in the World in History at Ball State University.
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Date Created: 10/30/15
1029 Economic expansion 0 Early modern period o If compared Europe39s wealth to other places like china middle east etc in the 14005 Europe looks far behind move forward 300 years Europe looks signi cantly wealthier and well off 0 Capitalism 0 Free enterprise free market 0 Main economic decisions are made by private individuals as owners consumers and workers 0 Individuals make main economic decisions in contrast to socialism where government makes main economic decisions Economic decisions made by producers include business focus who to hire how many employees prices production advertising who to sell to land needed for production materials needed Economic decisions made by consumers what products to buy how much they want to spend Workers decide who they want to work for acceptable wage bene ts needed from employment besides salary in uence they have on leadership There is not a xed amount of wealth designating in order for you to get wealthier someone else has to get poorer new wealth can be created If you get to keep the pro t from what you produce then you have incentive to do well 0 Incentive driven by self interest 0 ONLY works if you are making someone other people want What sets prices in a community 0 Supply and demand 0 Prices are set by the marketplace Competition drives resources for their most ef cientimportant use 0 Ex Land may have better use being a mill than farming produce Wealth is created by one thing productive activitv o Clearing land farming creating barrels selling goods etc Government can affect the production of wealth but cannot create wealth We only get things in a community if we have money left over to purchase them 0 Money is needed for Schools hospitals community centers food banks shelters parks 0 The United States spending on household spending is smaller than other countries Spend more on health care because of wealth is produced to invest there The United States is by far the most charitable nation in the world because of an excess of wealth money spent on hurricane relief or disease research is because we have extra money and resources to do so Capitalism key points Incentive self interest Competition ef cient use of resources Mesh with human nature Wealth created only by productivity Overall wealth can increase Increased wealth allows for education charity healthcare etc Government must do a few basic things 0 Including defense protection of you and your property from foreign invasion property must be protected from the government itself property protected from your neighbor others in the nann 8 Provides opportunity not guarantee NP P PP N In order for capitalism to work government MUST 1 Allow basic freedoms 2 Protect property rights 3 Establish and enforce basic civil and criminal laws 4 Provide for national defense 5 Be relatively stable Interconnected trends affecting economic expansion All these things coming together as you use your knowledge and hard work to create wealth 1 Growing freedom and opportunity capitalism 2 Increased farming efficiency 0 Better technology 0 Better use of land Crops from the new world Corn Potatoes very ef cient than most crops Peanuts squash pumpkins cacao manioc chili peppers pineapples papaya avocadoes tomatoes Cash crop tobacco 3 Technological advances Better looms printing presses Not quite factories just better equipment 4 Less chaos and marauding warfare Not the kind of thing where the land was devastated regularly or cities being burned down Warfare more restricted to the battle eld or the seas In western Europe not regularly in cities or country side 5 Expanding markets 0 The bigger your market place the more ef cient they operate 0 Very little trade in middle ages between cities and villages if our market expands over towns competition increases 0 Trade expands importsexports worldwide 6 Increasing capitalisms Creating more wealth more wealth to expand build more explore more technological advances Countries with lower taxes who took less from their citizens and relatively freer citizens grew faster ex The Netherlands Colonization In the early 14005 China had the largest ocean vessels in size with the largest eets 0 They sailed to India and sailed as far as the eastern coast of Africa accepted historical fact 0 Decision by the emperors in the 14205 didn39t want to colonize Why 0 At this time Western Europe is beginning from the middle ages 0 Chinese very advanced at this time o What they brought back in trade didn39t seem very impressive to them 0 Chinese view there is China and there s everyone elsebarbarians 0 That view combined with stuff is not impressive Confucius view that merchants were leaches on society Brought eet home make use of eet for other things felt there were better things to invest in Europeans very anxious to make money 0 Small kingdoms 0 Want to establish themselves 0 Interested in goods from the East 0 Trade by land pay off all the merchants along the way and make the journey those goods end up being very expensive Travel with large quantities of seasonings for example over sea and make a killing 0 Why seasonings 0 Taste 0 Show wealth o Preserves meat bottom line it is an extender of food Food kind of old now palatable can eat it months longer 0 Portuguese trying to go around Africa Continue to go around Africa and eventually into India Can bring back shiploads full of spices and silk from the East Maps for trade kept secret protect monopoly as long as they can for bringing goods to Europe Wealth in Western Europe is available to invest Stock companies to try to get in on the wealth of trade Went around Cape of Good Hope 0 Initially named Cape of Storms 0 Name not very good to get North Atlantio 0 turn to Portugal Aug 1498 Caliou may 3498 Equator lJoyage to India 39 Indian Ocean anfm Cape of GNood Hope III LOUD Miles Ocean otr 149 III 39IIIIIII Kilometers sailors and investors interested o Renamed Cape of Good Hope to encourage sailors and investors 0 Dutch English etc jump to settle lands along new continent to nd gold silver timber indigo crops tobacco to make money Expanded market wiped out 80 or more of the new world out Did better nancially when they could trade peacefully When Europeans and Asians brought their diseases like small pox they Inhabitants of the new world had no more understanding of diseases than Europeans when they saw so many people dying and very few of the new people get affected psychological concept new world beliefs must be stronger their God keeps them safe out Gods must be angry with us 0 Spain Brings back HUGE amounts of wealth Gold silver sugar timber indigo Colonies owned by handful of people at the top Spanish colonies of the new world looks like traditional Spain looks like middle ages Few at the top bring wealth to Spain spent on palaces and wars All the money poured into Spain essentially detrimental to them because it39s in the hands of people at the top Wealth brought in at the top in ation Common citizens NOT making more doing worse Money in the hands of the government goes right back out again Second rate power despite all the wealth brought from trade 0 Dutch colonies in the East Driven by incentive to work hard keep what you work for Own the land 0 English colonies Within a century America becomes an economic power house Scienti c revolution Same time as Renaissance Revolution dramatically different What is revolutionary about it What kinds of things does a good scientist do 0 O 0 Observe 0 Ask New Create questions perspectiv hypothesis 0 Experimen e Collect t New data 0 Predict theories Exchange 0 lnvent and laws informatio 0 Teach n To make great scientists you need creativity imagination philosophy questions visual arts ideas in addition to the math and science So signi cant was the impact of the Greeks and speci cally Aristotle astronomy the solar system was not questioned in the middle ages in the Scienti c Revolution people decided to open up and question the traditional ideas which is what people have believed for two thousand years questioning science and religion overall After 15002000 years why did people begin asking questions in the rst place 0 Humanism heart of the Renaissance is human ideas matter YOU can use your reason and it can be as good or better than ideas of people before you 0 Economic expansion allows for time to explore new options 0 Economic expansion expanded education Copernicus presents the idea sun is at the center of the universe heliocentric model of the solar system 0 Didn39t publish his book himself 0 Left instructions for publication after he died 0 His ideas were blasphemous church would have persecuted him 0 Was up for harsh criticism with bringing up challenging ideas