How did a newfound sense of commercialism aid in the development of Europe as global power culturally and economically during the modern period?
I actually have a fairly good paragraph for the cultural aspect, but I'm not so sure where I should start for it economically. . . .
Industrialization provided the finished products from the raw materials brought from colonies in Africa and Asia. These colonies also provided markets for the finished products.
To understand how commercialism aided in the development of Europe as a global power culturally and economically during the modern period, we need to explore the key factors and processes involved.
1. Exploration and Colonialism: Commercialism drove European nations such as Spain, Portugal, England, France, and the Netherlands to expand their territories through exploration and colonialism. They sought new trade routes to access valuable goods from Asia, Africa, and the Americas, establishing lucrative colonies and trading networks.
2. Mercantilism: Mercantilism, an economic philosophy, emerged during this period. European countries adopted policies to accumulate wealth through a favorable balance of trade. They aimed to export more goods than import to accumulate gold and silver, which in turn fueled economic growth and power.
3. Trade Networks and Monopolies: European countries established extensive trade networks, such as the Silk Road, transatlantic trade routes, and East India Trading Companies. These trade networks facilitated the exchange of goods, ideas, and technologies, boosting economic growth and cultural exchanges.
4. Industrial Revolution: The commercial spirit and emerging capitalist economies in Europe contributed to the Industrial Revolution. Europe experienced significant advancements in manufacturing, technology, and transportation, leading to increased production and economic power.
5. Rise of Banks and Financial Systems: The modern banking system emerged during this period, with the establishment of central banks and commercial banks. This allowed for efficient circulation of capital, investment in industries, and the growth of business enterprises, thereby boosting economic development.
6. Cultural Exchange and Influence: The extensive trade and colonization efforts fostered cultural exchanges between Europe and other regions. European nations were exposed to new ideas, languages, religions, art, and literature, which enriched their own cultural heritage and made them cultural powerhouses.
Overall, commercialism played a vital role in Europe's rise as a global power during the modern period, contributing to economic prosperity, technological advancements, and cultural influence. It sparked exploration and colonization, established trade networks, fueled the Industrial Revolution, created financial systems, and promoted cultural exchanges, all of which positioned Europe as a dominant player on the global stage.