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Colombian Exchange

Colombian Exchange. Warm Up: Music: Carnivale Objective: understand how the global exchange of goods transformed the world Standard:10.4.1 Homework: Notes: pages 137-141. Columbian Exchange. Abundance of new crops, animals and trade goods

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Colombian Exchange

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  1. Colombian Exchange • Warm Up: Music: Carnivale • Objective: understand how the global exchange of goods transformed the world • Standard:10.4.1 • Homework: Notes: pages 137-141

  2. Columbian Exchange • Abundance of new crops, animals and trade goods • New World: Quinine, Potato, squash, corn, chocolate, yams, tobacco,peanuts • Old World: Horse, Sheep, Cow • Two way traffic flow

  3. Mercantilism • Power of nation based on wealth. • Favorable Balance of trade. Exceeding the amount that you purchase by trading. • Rise of Merchant Class throughout world • Developed into Capitalism where ownership was privatized

  4. Capitalism • Capitalism- private ownership, investment, profit • Supply and demand • British End Guild Restrictions leads to Cottage Industry • Entrepreneurship

  5. Global Trade • Joint stock exchange- combine wealth – Two major JSE formed British East Indian Company, Dutch East Indian Company • Purpose was to receive loans to develop colonies • Change in gold supply • Inflation

  6. Thomas Mun “ Although a Kingdom may be enriched by gifts received, or by purchase taken from some other Nations… these are things uncertain and of small consideration when they happen. The ordinary means therefore to increase wealth and treasure is by Foreign Trade, wherein we must ever observe this rule: to sell more to strangers yearly then we consume of theirs in value.”

  7. James Cook • Voyages between 1768-1780 exploration throughout pacific

  8. What was a joint stock exchange? • Who owns the factors of production in capitalism? • What was the purpose of early joint stock companies? • What direction did corn and potatoes go in the Columbian exchange? • What is a favorable balance of trade? • What changed from mercantilism to capitalism?

  9. Extra Credit • World History Short: Global Trade of Pepper

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