Transcript Document

Colombian Exchange
• Warm Up: Music: Carnivale
• Objective: understand how the global exchange of
goods transformed the world
• Standard:10.4.1
• Homework: Notes: pages 137-141
Columbian Exchange
• Abundance of new
crops, animals and
trade goods
• New World: Quinine,
Potato, squash, corn,
chocolate, yams,
• Old World: Horse,
Sheep, Cow
• Two way traffic flow
• Power of nation based
on wealth.
• Favorable Balance of
trade. Exceeding the
amount that you
purchase by trading.
• Rise of Merchant
Class throughout
• Developed into
Capitalism where
ownership was
• Capitalism- private
ownership, investment,
• Supply and demand
• British End Guild
Restrictions leads to
Cottage Industry
• Entrepreneurship
Global Trade
• Joint stock exchangecombine wealth – Two
major JSE formed British
East Indian Company,
Dutch East Indian
• Purpose was to receive
loans to develop colonies
• Change in gold supply
• Inflation
Thomas Mun
“ Although a Kingdom may be enriched by
gifts received, or by purchase taken from
some other Nations… these are things
uncertain and of small consideration when
they happen. The ordinary means therefore
to increase wealth and treasure is by
Foreign Trade, wherein we must ever
observe this rule: to sell more to strangers
yearly then we consume of theirs in value.”
James Cook
• Voyages between
1768-1780 exploration
throughout pacific
1) What was a joint stock exchange?
2) Who owns the factors of production in
3) What was the purpose of early joint stock
4) What direction did corn and potatoes go in the
Columbian exchange?
5) What is a favorable balance of trade?
6) What changed from mercantilism to capitalism?
Extra Credit
• World History Short: Global Trade of