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Mercantilism. Seaport at sunset, a painting by Claude Lorrain, completed in 1639 at the height of mercantilism. Mercantilism is a nationalist economic policy that is designed to maximize the exports and minimize the imports for an economy. In other words, it seeks to maximize the accumulation of resources within the country and use those ...
Triangular trade. Triangular trade or triangle trade is trade between three ports or regions. Triangular trade usually evolves when a region has export commodities that are not required in the region from which its major imports come. It has been used to offset trade imbalances between different regions.
Some economic historians use the term merchant capitalism, a term coined by the German sociologist and economist Werner Sombart in his "The Genesis of Modern Capitalism" in 1902, to refer to the earliest phase in the development of capitalism as an economic and social system. However, others argue that mercantilism, which has flourished widely ...
Slavery and the slave trade are the most difficult and contentious aspect of the imperial legacy, one that captures the full viciousness of power, economic, political, and military, and that leaves a clear and understandable hostility to empire in the Atlantic world, Moreover, within Britain, slavery and the slave trade became and become, ready ...
Modern capitalism resembles some elements of mercantilism in the early modern period between the 16th and 18th centuries. [20] [21] Early evidence for mercantilist practices appears in early modern Venice, Genoa, and Pisa over the Mediterranean trade in bullion. The region of mercantilism's real birth, however, was the Atlantic Ocean. [22]
In European history, the commercial revolution saw the development of a European economy – based on trade – which began in the 11th century AD and operated until the advent of the Industrial Revolution in the mid-18th century. Beginning c. 1100 with the Crusades, Europeans rediscovered spices, silks, and other commodities then rare in Europe.
t. e. The Antebellum South era (from Latin: ante bellum, lit. ' before the war ') was a period in the history of the Southern United States that extended from the conclusion of the War of 1812 to the start of the American Civil War in 1861. This era was marked by the prevalent practice of slavery and the associated societal norms it cultivated.
Capitalism and Slavery is the published version of the doctoral dissertation of Eric Williams, who was the first Prime Minister of Trinidad and Tobago in 1962. It advances a number of theses on the impact of economic factors on the decline of slavery, specifically the Atlantic slave trade and slavery in the British West Indies, from the second half of the 18th century.