HISA04H3 Lecture Notes - Lecture 3: Mercantilism, Unfree Labour, Classic Case
Document Summary
Prefigurative elements: which sorta began to look forward to capitalism. The strong drive to acquire wealth was not translated into a drive to create capital. Imports: horses, spices, medicines, precious stones, cotton fabrics. Wool is being produced in england cotton production is not yet of effect. The ket textile exchange between the arabs and china was the most crucial and money making at the time. Strong central state limited growth of commerce: Merchants had little share in political power. Europe was a latecomer to international trade. Their most important commodity was preserving fish. Vence- took advantage of the fact that they were near the river as in on the coast to access the good from the arabs. Because their are expense and revenues in any business it is healthy to examine both you expense and revenue. This allows a business to get the big picture . They can find out if their business can actually make profit.
