GEO 101 Lecture Notes - Lecture 4: Triangular Trade, Market (Place), Merchant Capitalism
11 Mar 2016
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Document Summary
Globalization: increasing interconnectedness of different parts of the world through common processes of economic, political, environmental and cultural change. Note all countries are equal in these areas, obviously. Hearth areas: geographic setting where new practices develop and then spread. Groups of mini systems that have been absorbed into a common political system. Primarily economic: safety and order in exchange for wealth. Empires were dynamic because they were constantly looking to expand their territory. Law of diminishing returns: tendency for productivity of a given resource to diminish after a certain point with the continued addition of capital and labor. Imperialism: taking over smaller areas to benefit larger area. Colonialism: type of imperialism involving formal establishment and maintenance of rule by an independent nation over a foreign population. Interdependent system of countries linked by political and economic competition. Dominated by europeans due to their better military. Trade in europe with south and east asia: textiles.
