rise of modern capitalism
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Rise of Modern Capitalism. Chapter 1 Section 2 Pages 90-97. Vocabulary Words. Capitalism: money invested in business to make more money Joint-Stock Company : organizations of stockholders formed to share profits and risks of ventures - PowerPoint PPT PresentationTRANSCRIPT
Vocabulary Words Capitalism: money invested in business to
make more money Joint-Stock Company: organizations of
stockholders formed to share profits and risks of ventures
Mercantilism: theory that a nation becomes powerful by building up a supply of gold and silver
Columbian Exchange: global exchange of people, goods, technology, ideas and diseases
Essential Question #1 What were the voyages of discovery,
locations of routes, and influences of cartography in the Americas?
How did Capitalism Develop? Search for wealth led to capitalism
an economic system in which money is invested to make profits
Commercial Revolution Roots of modern financial and banking
life
Growth of Banking 1600’s: system of banking in
financial trading ventures Gov’t funded trading Wealthy families set up banks
Joint-Stock Companies Wanted to invest in exploration Merchants combined resources Raised funds for voyages Dutch East Trading Company
From Netherlands Monopoly (sole right) to trade Gov’t received taxes
What is Mercantilism? Led to colonies 1600’s economic policy Built up supply of bullion (gold, silver) Spain sent conquistadors to Americas
Seized gold/silver of Incas and Aztecs Exported more than imported
Merchants made money Gov’t made taxes
Quest for Colonies Columbian Exchange in the Americas
Brought livestock Changed lives
Rivalry among nations Colonies controlled by home country
Trade in Goods Europeans planted grains from
Europe, Asia New Animals
Pigs, chicken, sheep, cattle, horses New Crops
Acquired corn, potatoes, tomatoes, beans, chocolate, squash, chili peppers, peanuts, tobacco, sugar cane, tea, bananas, coffee