Module 2 - Study Guide Terms Flashcards
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Capitalism
- Began and never stopped growing
- Putting money into a project that you hope would make a profit, then re-invested for infinity
- Private, individual profit
- Attitude of the West
- Wealthy people
Mercantilism
- Merchant trade
- An early focus of capitalism
Colonialism
- The policy or practice of acquiring full or partial political control over another country, occupying it with settlers, and exploring it economically
Joint-Stock Companies
- The first modern corporations
- Maximize import profit
- Have huge political and military power
- Indian Ocean Zone
- Stockholders and shareholders
English East India Company
- Hard to get people to want to move
- Become less free than they are in England
- Get the right to become primary slave-traders
Dutch East India Company
- Founded by James Coen
- No trade without war, no war without trade
- Pioneer of capitalism and trade
- First public trade company (stocks and shares)
- Established a monopoly over much of the Indian Ocean Trade
Dutch Indonesia
- Dutch East India Company
- First publicly traded company
- Colonizes Indonesia
- Challenges Portugal
Virginia Colony
- Becoming important in the slave trade
Massachusetts Bay Colony
- Becomes financial and transportation supplier to southern plantations
Puritans
- English Protestants
- 16th and 17th centuries
- Did not like the reformation of the church of england
Sugar Islands/ Plantation Complex
- The Caribbean Islands
- Cash crop
Staple Crops
-Tobacco, Sugar, Rice
Kingdom of the Congo
- Became fairly rich thanks to Western trade
- Traded with the Portuguese
- King Afonso Converted to Christianity
- Became rich but unstable
- Weapons for slaves
Transatlantic Slave Trade
- A component of the Triangular Trade
- People from Africa would be shipped to America to work on the sugar, tobacco, and cotton plantations
Slave Society
- Worked the plantations in America
- They became good at financing the purchases of one another
- The idea of race began here
- 10 million slaves
- Slavery becomes biological
- Reduced the need for new imports
Atlantic System or Trade Triangle
- Between America, Britain, and Africa
- Slaves and goods went back and forth
New France
- The area colonized by the French in North America
Absolutism (or Absolutist Monarchy)
- A single ruler “Monarch”
- Benefits everyone in the kingdom
- Unity, authority, no committees
- God is an absolute monarch
The most rational, efficient, effective way to guarantee security and prosperity for everyone in a state - Associated with France
King Louis XIV of France
- Absolute monarch
- “The Sun King”
- Abandons any consultation with nobility
- Gives France huge military victories and trade expansion
- Under-tax the wealthy to avoid representative assemblies
Social Contract
- You have agreed that it is better to have government than to not
- The natural condition of man is war against each other
Thomas Hobbes
- “Wealth is power; power is wealth”
- Wrote “The Leviathan”
- Explained why you actually need government
- Wants an absolute monarch
- Need someone to rule over us
Constitutional Monarchy/ Constitutionalism
- Limited Monarchy
- Monarchy is a good thing
- The king still needs to be put in his place
- John Locke -> we should have the opportunity to change the government -> life liberty and property -> natural rights
- Share with the wealthy
Republic
- A group of well-educated, wise, wealthy men
- Influenced by Italian, Swiss, and Roman/Greek thought
- Get rid of the monarchy
Dutch Republic
- The Netherlands
- Declares independence from Habsburg Spain
- Appoints a “stadholder” from Holland (taxes) -> turns into a kingship
- Central authority was too weak
(English) Parliament
- Governed by a monarch and the parliament
- Parliament actually rules
- Based off of the French word for talk
- Fired the king
English Bill of Rights (1689)
- Makes sure Parliament is supreme
- The rules for being king
- William and Mary
- Parliament: military, taxes, right to bear arms, freedom of speech, suspending laws
John Locke
- The Second Treaty of Government
- We should have the opportunity to change the government
- Life, liberty, property
- Constitutional Monarchy
- One of the founding fathers of liberalism
“Life, Liberty, Property”
- The rights that John Locke says the people should be allowed to have
- “Natural Rights”
National Debt
- War and trade expand together (Britain)
- Government support for commerce and businesses comes from the Bank of England
- Provides cheap capital
- Helps fund expanding military power