The Commercial Revolution The European World. Asian Trade Routes Asian trade routes had dominated...

The Commercial RevolutionThe Commercial Revolution

The European WorldThe European World

Asian Trade RoutesAsian Trade Routes

Asian trade routes had dominated global trade prior to 1500s, with West Asia acting as a “middle man” between east and west

Early Explorations in the EastEarly Explorations in the East

Europeans were motivated to head east in order to bypass West Asia

European Exploration of the AtlanticEuropean Exploration of the Atlantic

What is the Columbian Exchange?What is the Columbian Exchange?

the global transfer of foods, plants, and animals during the colonization of the Americas

the global transfer of foods, plants, and animals during the colonization of the Americas

A Global ExchangeA Global Exchange

transformed the world transformed the world

A Global ExchangeA Global Exchange

transformed the world global transfer of:

plants animals disease and especially food

transformed the world global transfer of:

plants animals disease and especially food

A Global ExchangeA Global Exchange

transformed the world global transfer of:

plants animals disease and especially food

brought together the Eastern and Western hemispheres

transformed the world global transfer of:

plants animals disease and especially food

brought together the Eastern and Western hemispheres

A Global ExchangeA Global Exchange

transformed the world global transfer of:

plants animals disease and especially food

brought together the Eastern and Western hemispheres

touched nearly all the peoples of the world

transformed the world global transfer of:

plants animals disease and especially food

brought together the Eastern and Western hemispheres

touched nearly all the peoples of the world

America to Europe/Europe to AmericaAmerica to Europe/Europe to America

What is Capitalism?What is Capitalism?

capitalism is an economic system based on private ownership and the investment of wealth for profit

capitalism is an economic system based on private ownership and the investment of wealth for profit

The Rise of CapitalismThe Rise of Capitalism

overseas colonization and trade = merchant wealth

merchants continued to invest their money in trade and overseas exploration

profits from these investments enabled merchants and traders to reinvest even more money in other enterprises

businesses across Europe grew and flourished

The Joint-Stock CompanyThe Joint-Stock Company

worked much like the modern-day corporation

involved a number of people pooling their wealth for a common purpose

worked much like the modern-day corporation

involved a number of people pooling their wealth for a common purpose

Risks and BenefitsRisks and Benefits

Risks: many ships never

completed the long and dangerous ocean voyage

colony could fail

Risks: many ships never

completed the long and dangerous ocean voyage

colony could fail

Risks and BenefitsRisks and Benefits

Risks: many ships never

completed the long and dangerous ocean voyage

colony could fail

Risks: many ships never

completed the long and dangerous ocean voyage

colony could fail

Benefits: individual members paid

only a fraction of the total colonization cost

if the colony failed, investors lost only their small share

if the colony thrived, the investors shared in the profits

Benefits: individual members paid

only a fraction of the total colonization cost

if the colony failed, investors lost only their small share

if the colony thrived, the investors shared in the profits