related issue two Flashcards
(23 cards)
chp 5
imperialism
one country’s domination over another country’s economic, political, and cultural institutions.
chp 5
historical globalization
historical process of the world becoming more interconnected
beginning in 1492, when Christopher Columbus made his first voyage to the Caribbean, and ending after WWII
chp 5
mercantilism
an economic theory/practice that encourages a country to export more than it imports.
the economic system of feudalism
trade was strictly controlled to benefit the economy of the imperial power
chp 5
capitalism
country’s domination over another country’s economic, political, and cultural institutions.
chp 5
grand exchange
the exchange of goods and ideas from Europe, Africa, and Asia and goods and ideas from the Americas
chp 5
industrial revolution
when work became mechanized and began to occur in factories.
brought dramatic economic, social, and cultural change.
chp 5
when did globalization start
theres many theories, most ppl say when columbus made his first trip to the americas (1492)
chp 5
silk road
network of caravan trackers linked asia and europe
ideas and good were transported
chp 5
feudal system
a way of organizing society in medieval Europe where land ownership was the basis of power and relationships
chp 5
rise of middle class
middle class” eventually overthrew the ruling monarchists of feudal society, thus becoming the new ruling class or bourgeoisie in the new capitalist-dominated societies
middle class + trade
trade became important after ride of middle class, a race to est. colonies began
trade brought economic prosperity which brought power
chp 5
mercantilism results for colonies
COLONIES:
good from england cost $$
farmers recieved low prices for crops
protection from english military
england shipbuilding thrived
chp 5
marcantilism results for england
colonial competition reduced
benefit from imports on goods
trouble enforcing navigation acts ($$)
chp 5
adam smith
father of capitalism
attacked mercantilist system
advocated free international trade
chp 5
2 biggest factors of contact
disease and slave trade
many indigenous ppl died from european diseases from contact
chp 5
agricultural revolution and industrial revolution
The Agricultural Revolution, a period of significant advancements in farming techniques, played a role in paving the way for the Industrial Revolution.
Increased food production led to population growth and a surplus labor force, which then migrated to urban areas to find work, fueling the Industrial Revolution.
chp 5
laissez faire system
theory was that govt shouldnt interfere with business because it was good for the industry
laissez faire means hands off
legacy
ethnocentrism
eurocentrism
depopulation
deindustrialization
gross domestic product:
