Lesson 3 Flashcards
New players, new institutions
What is the ‘Little Divergence’ in European history?
The shift of economic, political, military, and cultural dominance from Southern Europe (Mediterranean) to Northern Europe (North Sea region) during the early modern period.
Which cities dominated Europe’s economy during the Middle Ages?
Florence, Genoa, Milan, and Venice in the Mediterranean.
What major development shifted the economic core from the Mediterranean to the Iberian Peninsula?
The opening of Atlantic trade routes.
Why did Antwerp become the economic center of Europe after Venice?
Its favorable geographical position, mercantile tradition, financial importance, and connection to the Spanish Empire.
What were some challenges that prevented the Iberian Peninsula from maintaining economic supremacy?
Limited resources in Portugal, Spanish imperial overstretch, competition from the English and Dutch, religious wars, and inflation from imported gold and silver.
How did Amsterdam replace Antwerp as the European economic center?
The decline of Antwerp due to Spanish rule, continuous bankruptcies of the Spanish Empire, and the rise of the Dutch Republic after rebellion.
What role did the Dutch East India Company and the Dutch West India Company play in colonialism?
They controlled trade and governance over colonial territories, recruited armies, and administered territories independently, with monopolies in the Levant and Atlantic trade.
How did the Dutch model of colonial trade differ from that of Spain and Portugal?
They delegated trade control to private companies, while Spain and Portugal maintained royal monopolies.
What factors contributed to the success of the Dutch Republic in the 17th century?
Innovation due to high population density, market-oriented agriculture, finance, and a strong trade network.
What is the ‘Industrious Revolution’ and how is it linked to the Industrial Revolution?
The increased labor participation of women and adolescents in Northern Europe, leading to economic growth and considered a precursor to the Industrial Revolution.
What role did political institutions play in the Little Divergence?
Northern Europe had more open political institutions that fostered private property rights, trust, and efficient tax collection, which promoted economic growth.
How did geography influence the Little Divergence?
Northern Europe’s access to Atlantic trade routes gave it an advantage over Mediterranean regions.
According to Max Weber, how did the Protestant Reformation influence economic development?
It introduced attitudes that favored capitalism in Northern and Central Europe.
How did demographic changes impact Northern Europe’s economy during the Little Divergence?
Higher marriage ages, inheritance patterns, and the effects of the plague helped create a more mobile labor force, which fueled economic growth.
