HIST 1007 Chapter : Background To The Industrial Revolution
Document Summary
Merchant corporations- group of people pooling they"re wealth and investing it into a institution. The dutch east india company, 1602: not so separate from the government; rather they were chartered by the govt, so they were granted a monopoly in an area. Armies to protect trading posts all over the world. Trade has gone global: trading & transporting across vast distances is expensive, so you must have credit to finance this long distance trade, development of banks, these trading voyages are dangerous, insurance companies to insure the voyages. First item of mass production and consumption and western capitalism. Discovered sugar during crusades: very expensive, and consumed in small quantities, only afforded by upper class rich people, starts being grown in other areas in the mediterranean sea, african islands of african coast. Common form of enslavement= capture in war. Mortality rate on the voyage = 50%
