How did the world become more modern?
European voyages of exploration, long distance trade, colonialism, and parts of the world became aware of each other even if they were far away
Example of inflation
30 dollars for a pair of sketchers. 50 million new pairs were brought in (oversupply). The price of each pair gets lowered.
Inflation hurts which group of people the most?
City workers because they earn a salary from their boss
Which group of people does inflation hurt the least?
Merchants because they can always get/make more goods, decide on prices, and they have the products that everyone needs
Private enterprise includes what?
Investing money to earn profit in the future, long distance trade, and you cannot finance a trip without capitalism
In order to go on a trading trip what do you need?
a trading representative, ships, captain, crew, supplies for the ship, and to buy manufactured goods to sell in India
Portuguese explorer, explored the east african coast, and him and his crew were amazed by the spices and fabrics
Treaty of Tordesillas
Pope Alexander VI stepped in to make peace between Spain and Portugal; all lands on the east side of the line belonged to Portugal
Landed on the shores of Mexico, and colonized several Caribbean islands. His men were known as the conquistadors (600 men). Wanted to find gold. First Europeans to settle in the Americas. When the Spanish conquered America, this brought in advancements of weapons, diversity of native groups, and disease.
conquistador (200 men). Marched a small force into South America. Conquered the Incan Empire. Atahualpa brought 30,000 men, mostly unarmed, to the meeting, but the Spaniards ambushed them and kidnapped Atahualpa. Atahualpa offered a room full of gold for his release, but was killed instead. Pizarro captured the Incan capitol, Cuzco.
The global transfer of foods, plants, and animals during the colonization of the Americas. Caused a population decline in the Americas, and population shifts everywhere else. The Europeans brought diseases. Slavery started.
Joint stock company
Business venture that developed during this period
Involved a number of people combing their wealth for a common purpose. The common purpose was American colonization. People invest money into trading and get their fare share of profits from what they payed.
Investors in the joint stock company must be what?
wealthy, have money they can afford to lose, and must be able to tie up their money
Henry the navigator
For his role in promoting Portuguese exploration, historians call Prince Henry "the Navigator." Although he never went on voyages of discovery, Henry was consumed by the quest to find new lands and to spread Christianity. A devout Catholic, he wanted "to make increase in the faith of our lord Jesus Christ and bring to him all the souls that should be saved."
Business person who puts it all together. Is the trading representative. Needs to have a lot of money
Price revolution of the 16th century
inflation occurred because Spain brought back so much gold. England stopped the gold rush
Reasons for exploration
try to find direct sea route to Asia because they wanted spices expansion of foods and wealth, spread Christianity, path to the East