The Global EconomyThe Rise of the Atlantic Economy

The Global Economy/The Rise of the Atlantic Economy By Matt, Rachel, Audrey, Al-e

Focus Question How did the Atlantic trade and the introduction of a Global Economy, controlled mostly by the British, change the lives and values of the people and eventually bring about an economic breakthrough? How did the expansion of european trade effect and create new economic patterns?

Mercantalism and Colonial Wars • Mercantilism is an economic system • The Navigation Acts • Colonial Success Effecting Europe • France's Quest for Power • The Treaty of Paris

Land Labor in British America -Settlers took up farming on free land -dropped European povery levels -population rose -Because of all the free land, labor expenses started to rise - This is when slavery was introduced into the Americas -American shipping industry grew

the Atlantic Slave Trade

Atlantic Slave trade cont'd a very important elemant in European expansion forced the migration of millions of Africans Slave trade in Britain was finally abolished in 1808

The Revival in Colonial Latin America • Political revival and economic growth o Spain acquired Louisiana in 1763 o Silver mining in Mexico o Trade grew • Mestizos • Creole landowners used debt peonage

Trade and Empire in Asia • • • Portugese dominated the Indian Ocean Dutch East India Company English East India Company British defeated the Mughal Emperor British gained control of India

Adam Smith (1723 -1790) and Economic Liberalism • Social philosopher, pioneer-political economy • The Wealth of Nations • (The Invisible Hand) • philosopher-emphasized ethics and charity. • his P. O. V. called economic liberalism

How did the expansion of European trade effect and create new economic patterns?

Sources http: //www. econlib. org/library/Enc/ http: //www. stephenhicks. org/wpcontent/uploads/2010/02/americancolonies. gifbios/Smith. html http: //tclaudeapwhp 2. wikispaces. com/Africa+and+the+Africans+in+the+Age+of+the+Atlantic+Slave+Trade