Age of Exploration 1415 1796 Ch 14 Sections

Age of Exploration 1415 -1796 Ch 14 Sections 1 and 2 Ch 15

Effects of Global Contact • • (Overview—details on the following slides) Columbian Exchange Commercial Revolution Mercantilism

Columbian Exchange • Americas = New World • Europe, Africa, Asia = Old World • Columbus’ travels led to an exchange between these “worlds” • Three main elements of trade – Food products – Livestock – Disease

Food for Thought: Before the Columbian Exchange there were • • • no oranges in Florida no bananas in Ecuador no paprika in Hungary no tomatoes in Italy no pineapples in Hawaii no cattle in Texas no chile peppers in Thailand India no cigarettes in France no chocolate in Switzerland

Commercial Revolution • Opening trade with Asia, Africa and America changed (revolutionized) Europe’s economy: • Inflation caused by – growth in population = increase in demand for goods and services – scarce goods = higher prices – by mid-1500 s silver /gold were everywhere = used to make coins = more money in circulation • Expanded trade and push for overseas empires spurred the growth of capitalism – – entrepreneurs and capitalists wanted more money, made a new business class devoted to making profits changed the local European economy into an international trading system

Mercantilism • Nation’s wealth based on its gold and silver treasure • Must export more goods than imported • Colonies existed for benefit of parent country – Provide raw materials and resources – Provide a market for selling manufactured goods – Colonies could ONLY buy from parent country