I have to write an essay and the instructions are Analyze the economic, technological and institutional factors responsible for Western Europe’s domination of world trade from 1650-1800 I must have 2 examples for each of the three so far I have
Economic: Mercantilism
Technological: better ships, better maps
Institutional: the empires of england, portugal, france, spain, dutch, and Netherlands
Great start! Here are two more examples for each of the three factors:
Economic:
1. Colonial trade: Western European nations established colonies in various parts of the world, such as the Americas, Africa, and Asia. These colonies provided an abundant supply of raw materials, such as precious metals, agricultural products, and slave labor, that were essential for European industries. The exploitation of these resources allowed Western European nations to amass wealth and maintain dominance in world trade.
2. Commercial monopolies: Western European powers often established exclusive trading rights and monopolies with their colonies and even among themselves. For example, the British East India Company enjoyed a monopoly on British trade with India and other parts of Asia. These commercial monopolies enabled Western European nations to control trade routes and limit competition, further strengthening their domination of world trade.
Technological:
1. Industrial advancements: Western Europe experienced significant technological advancements during the period, particularly with the advent of the Industrial Revolution. Innovations such as the steam engine, mechanized production techniques, and improvements in transportation (such as canals and later railways) enhanced manufacturing, productivity, and the efficiency of trade networks.
2. Navigation and cartography: Western Europeans made significant progress in maritime technology and navigation during this period. For example, instruments like the quadrant and the astrolabe improved navigation accuracy. Additionally, advancements in cartography, especially the publication of more accurate maps and charts, facilitated safer and more efficient travel, leading to increased trade.
Institutional:
1. Colonial administration: Western European powers developed efficient systems of colonial administration during this period. For instance, the British established the system of indirect rule through local intermediaries in India, allowing for an effective and cost-efficient extraction of resources. This institutional structure ensured stable governance and facilitated trade between the colonizers and their colonies.
2. Treaty arrangements: Western European nations engaged in diplomatic negotiations and signed treaties to establish favorable trade relationships and commercial partnerships. For example, the Treaty of Methuen in 1703 between England and Portugal promoted a wine-for-cloth trade agreement, benefiting both countries. Such treaty arrangements contributed to the institutional framework supporting Western Europe's dominance in world trade.
Remember to provide more detailed explanations and include additional evidence for each example in your essay. Good luck!
Great start! Here are some additional examples for each category to help you complete your essay:
1. Economic Factors:
- Colonialism: European nations established colonies around the world to exploit their resources and establish trading networks.
- Trade routes: European countries developed and controlled major trade routes, such as the Silk Road and the Transatlantic Slave Trade, giving them access to valuable goods and resources.
2. Technological Factors:
- Navigation Tools: Europeans developed more advanced navigational instruments, like the compass and astrolabe, which improved their ability to navigate long distances and explore new trade routes.
- Industrial Revolution: The Industrial Revolution, which began in the late 18th century, led to significant advancements in manufacturing and transportation technologies, further enhancing Europe's trade dominance.
3. Institutional Factors:
- East India Companies: European companies, like the British East India Company and the Dutch East India Company, were granted monopolies and exclusive rights to trade with certain regions, giving them an economic advantage.
- Legal Systems: European countries developed legal frameworks, such as maritime law, that protected their merchants and encouraged trade by providing security and predictability.
Remember to provide supporting evidence and explanations in your essay to demonstrate how these factors contributed to Western Europe's domination of world trade during the specified time period.