HIST-UA 9053 Lecture Notes - Lecture 4: Edwardian Era, Mercantilism, Financial Services
5 Mar 2018
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Midterm paper due next week (2000 words) Mercantilism, free trade, protection, commodity trade, invisible trade, tariffs. Mercantilism: economic policy tied to a national organization for the purpose of building a wealthy and powerful state. Controlling to economy of the mother country and colony for the economic benefit of the mother country. Trade is done freely w/out tariff restrictions (not always completely true) Protection: setting tariffs in order to protecting the mother country"s own economic interests and components. Commodity trade: trade in physical products and resources. Invisible trade: selling of intangible goods like services, information, ideas etc. Financial services in the city of london (banking, investment, borrowing, insurance, etc. ) Charging countries for the use of british mercantile ships for trading. One of the most transformative times in british history. The infrastructure built in the colonies were solely for the purpose of benefiting. Colonies mostly did not reap any of the benefits of the building of infrastructure and industrialization.
