C. 17 def-wor (Ind) Flashcards
The movement to fence in fields in order to farm more effectively, at the expense of poor peasants who relied on common fields for farming and pasture.
enclosure
The transformation of large numbers of small peasant farmers into landless rural wage earners.
proletarianization
A stage of industrial development in which rural workers used hand tools in their homes to manufacture goods on a large scale for sale in a market.
cottage industry
The eighteenth-century system of rural industry in which a merchant loaned raw materials to cottage workers, who processed them and returned the finished products to the merchant.
putting-out system
The shift that occurred as families in northwestern Europe focused on earning wages instead of producing goods for household consumption; this reduced their economic self-sufficiency but increased their ability to purchase consumer goods.
industrious revolution
The organization of artisanal production into trade-based associations, or guilds, each of which received a monopoly over its trade and the right to train apprentices and hire workers.
guild system
A belief in free trade and competition based on Adam Smith’s argument that the invisible hand of free competition would benefit all individuals, rich and poor.
economic liberalism
A series of English laws that controlled the import of goods to Britain and British colonies.
Navigation Acts
The treaty that ended the Seven Years’ War in Europe and the colonies in 1763, and ratified British victory on all colonial fronts.
Treaty of Paris
A form of serfdom that allowed a planter or rancher to keep his workers or slaves in perpetual debt bondage by periodically advancing food, shelter, and a little money.
debt peonage
The forced migration of Africans across the Atlantic for slave labor on plantations and in other industries; the trade reached its peak in the eighteenth century and ultimately involved more than 12 million Africans.
Atlantic slave trade
also called Benelux countries, the coastal region of northwestern Europe, consisting of Belgium, the Netherlands, and Luxembourg
Low Countries
the exclusive possession or control of the supply of or trade in a commodity or service
monopolies
trade between three ports or regions. It usually evolves when a region has export commodities that are not required in the region from which its major imports come. It has been used to offset trade imbalances between different regions.
Triangle Trade
a basic good used in commerce that is interchangeable with other goods of the same type. They are most often used as inputs in the production of other goods or services. It, thus usually refers to a raw material used to manufacture finished goods.
Commodities
