1 / 7

COLONIAL ECONOMIC SYSTEM

COLONIAL ECONOMIC SYSTEM COMMERCIAL SYSTEM “Colony” “any people or territory separated from but subject to a ruling power.” Colonial Commercial System Sugar Europe Latin America goods Sugar Port Spain Gold/Silver goods goods Native Agriculture Plantations Gold/Silver goods

Thomas
Download Presentation

COLONIAL ECONOMIC SYSTEM

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. COLONIAL ECONOMIC SYSTEM COMMERCIAL SYSTEM J. Michael McGuire, Ph.D.

  2. “Colony” • “any people or territory separated from but subject to a ruling power.” J. Michael McGuire, Ph.D.

  3. Colonial Commercial System Sugar Europe Latin America goods Sugar Port Spain Gold/Silver goods goods Native Agriculture Plantations Gold/Silver goods FORCED LABOR MONOPSONY MONOPOLY INTERMEDIARY Drafted Labor Mining Hacienda Ranching J. Michael McGuire, Ph.D.

  4. CONTROL TRADE Casa de Contratación License & Supervise all ships, passengers, crews, and goods Collect taxes (import, export, convoy, sales) Charts School of navigation J. Michael McGuire, Ph.D.

  5. CONTROL TRADE Merchant Guild Cartel Reduce quantities and raise price Few Ports Obligatory Fleet System Enforce closed ports Protection J. Michael McGuire, Ph.D.

  6. WEAKNESSES Smuggling Piracy Weak Spanish Industry Intermediaries J. Michael McGuire, Ph.D.

  7. OUTCOMES / LEGACIES INFLATION MV = PQ LITTLE INVESTMENT CONSPICUOUS CONSUMPTION INEQUALITY J. Michael McGuire, Ph.D.

More Related