Skip to main content

What was the economic impact of the Columbian Exchange on European mercantilism?

Mercantilism is the belief that national power is derived from wealth and that wealth is accumulated through a favorable trade balance.  In other words,  a nation that sells more goods to foreign markets than it buys will acquire wealth.  The voyages of Christopher Columbus were motivated by the need to establish new trade routes in the pursuit of profit.  The Columbian Exchange played a significant role in the primacy of mercantilism as economic policy.  The exchange introduced new agricultural goods like potatoes, maize, and tomatoes to Europe.  This new abundance of food caused greater nutritional variety to the diet and enabled the populations to grow.  The larger populations would spark the introduction of factory systems to western Europe.  A larger population also created pressures on the economies of Europe.  This pressure was relieved to some degree through the establishment of colonies in the New World.  It was through the colonies that mercantilism really took off.  The colonies supplied Europe with raw materials like wood, sugar, and cotton that were vital to economic growth.  The colonies also supplied important markets to European merchants that hoped to create trade surpluses in the pursuit of wealth. 


Comments

Popular posts from this blog

Is there a word/phrase for "unperformant"?

As a software engineer, I need to sometimes describe a piece of code as something that lacks performance or was not written with performance in mind. Example: This kind of coding style leads to unmaintainable and unperformant code. Based on my Google searches, this isn't a real word. What is the correct way to describe this? EDIT My usage of "performance" here is in regard to speed and efficiency. For example, the better the performance of code the faster the application runs. My question and example target the negative definition, which is in reference to preventing inefficient coding practices. Answer This kind of coding style leads to unmaintainable and unperformant code. In my opinion, reads more easily as: This coding style leads to unmaintainable and poorly performing code. The key to well-written documentation and reports lies in ease of understanding. Adding poorly understood words such as performant decreases that ease. In addressing the use of such a poorly ...

Is 'efficate' a word in English?

I routinely hear the word "efficate" being used. For example, "The most powerful way to efficate a change in the system is to participate." I do not find entries for this word in common English dictionaries, but I do not have an unabridged dictionary. I have checked the OED (I'm not sure if it is considered unabridged), and it has no entry for "efficate". It does have an entry for "efficiate", which is used in the same way. Wordnik has an entry for "efficate" with over 1800 hits, thus providing some evidence for the frequency of use. I personally like the word and find the meaning very clear and obvious when others use it. If it's not currently an "officially documented" word, perhaps its continued use will result in it being better documented.