Economic Factors In The 17th Century And The Dutch East India Company

“The discovery of America, and that of the passage to the East Indies by the Cape of Good Hope, are the two greatest events recorded in the history of mankind” (Smith). According to Adam Smith, philosopher and pioneer of political economy, Columbus’ discovery of the Americas and Vasco da Gama’s feat of sailing around southern Africa to find the sea route to Asia were the most important game-changing moments in history. Likewise, historians have traditionally agreed with Smith that these were two of the most important turning points in world history. Not only did these lead to the global domination of Western Europe, but they also led to the emergence of a global market.

The economic forces of colonial expansion created a global economy where international trade united previously unfamiliar populations with each other. Before the birth of imperialism, many African and Asian economies were in a primitive and inefficient state lacking the modern technologies and innovations that were common in Europe. With the annexation of territories in Africa and Asia, many European powers were able to export their economic technologies and innovations to those under developing nations. Eventually, the adoption of a similar system of economic operations by both settler and non-settler states allowed international trade to be conducted. What is of utmost importance is that colonialism taught these nations the benefits and procedures of exchanging goods and capitals over borders. Through the practice of global trade, previously unknown populations were able to communicate and conduct business on an international level, thus uniting different economies and their corresponding populations. Aside from

The early modern world was impacted with a lot of change. From agriculture beginnings and producing only what was needed to survive within communities, the world had changes that would transform the world’s economy forever. Changes started to occur in the European states, England in particular, the Atlantic economies and South Asia (India). The new found ways to enlarge these power hungry countries became their priority. This helped emerge new ideas and concepts that define our economy today. International trade and exchange of goods between countries had a great impact then as it does now. Countries depend on these ideas in order to be wealthier and powerful. There were a lot of problems that occurred about commerce when it was carried out by certain countries like slavery, and overly dominant empires. There were also many political and religious groups that supported these methods of commerce, since they were beneficial for them. The realities of commerce in

Slavery played a big part in history. During the 18th century, slaves were purchased by the Dutch West India company from Africa and Europe. The first eleven slaves that were purchased by the Dutch West India company were all males. All of them were considered Atlantic Creoles because they were the products of European males and African women. They were taken to New Amsterdam where a heavy workload was waiting for them. Building colonies, constructing roads, unloading ships, and planting tobacco where the types of jobs that they had to do every day. Slaves were expected to work all day; no matter what the weather

From the early to 18th century the Market Revolution had tremendous and lasting impacts on the Northern, Southern and Western economies. The Revolution brought about new technological inventions as well as an influx of immigrants to new lands. The effects of the Market Revolution on Northern, Western and Southern societies are evident in various ways. For the North, the revolution gave way to the increase in population because of immigrants. Contrary to this, the West experienced advancements and developments in technology due to the Revolution and inventors such as Eli Whitney. Lastly for the South, the Market Revolution created different perceptions on the various social effects the movement had on society.

India a country whose population is only surpassed by that of China’s, was colonized in the 1750s by the British who were seeking to further expand their global empire and grow their wealth but cared little if at all for the people 's lives that were impacted by their colonization. Peter Marshall a renowned professor, author, and historian wrote an article discussing the colonization of India by Britain which provided information regarding the East India Company and British expansion in the region. According to Marshall, “The East India Company was one of the largest and most powerful companies in the world from 1750 to the late 1800s” and then went on to say, “Its primary function as a company was to serve as a monopoly of all the English trade made in Asia” (Marshall). The Company’s expansion into India allowed for Britain’s government to easily access India’s resources. It also enabled Britain’s

Geographically, the Dutch had the perfect foothold for easy access to trade as well as being a considerable distance from the oppressing Spanish nation. However, due to their location and lack of readily available resources, the Dutch pushed for innovation that opened new domestic and foreign economic opportunities. Domestically, Amsterdam began to produce new industry alongside a growing society of merchants, entrepreneurs, and financiers that pushed for new financial institutions such as banks and stock markets. Amsterdam also quickly obtained the positon as the world center of trade which kept many Dutch merchants and producers knowledgeable about economic trends in order to undercut their competition. Lastly, I believe that the Calvinistic view they had gave them the confidence to explore new economic venture because in their eyes they were “God’s chosen people to be delivered to a promise land”. I think that the Dutch were only able to become a great economic power because they were a well-rounded society that promoted domestic industry, were tolerable in religiously, persistent in their economic endeavors, and held a prime geographic location to establish a global trade

During the 1600-1750s global trade allowed countries to make money from across the world. Global trade affected everyone in the country, from Rulers to regular people. Normal people could experience a wide variety of goods from exotic cultures. These goods ranged from furs from French North America to sugar from the Caribbean to tobacco from British colonies to coffee from Southeast Asia and the Middle East. When the availability of these products was disturbed so were the economic and political systems. Prices were also variable and depended on the supply and user demand. When prices of these item rise some countries suffer while others make profit.

The South Sea Company, started in 1711, indirectly caused quite a ruckus among countless British investors, creating one of the earliest modern economic crises in our history. It all began as the South Sea Company, a British international trading company, monopolized the trade trade between Spain’s colonies in South America and the West Indies. Many investors soon began to realize the potential within the company as the colonies were filled with precious resources such as gold and silver. In order to determine the extent of the effects that the South Sea Bubble had on society, we must examine the social, political, and economic aspects within the catastrophe. The magnitude of the situation was quite immense as it’s effects had a severe impact on the British investors and the economic outlook towards investment. Thus, the South Sea Bubble represents an economic crisis that changed the British perception of pursuing and encouraging investment.

When the East India companies were formed, they changed how business was done. These companies had stocks that would pay dividends on all of the proceeds from all of the voyages that the companies undertook, rather than going on a voyage by voyage basis. They were the first modern joint stock companies, which allowed them to demand more for their shares, and in time, build larger fleets. The size of the companies, along with their royal charters which forbid competition, meant huge profits for those that could invest.

The Netherlands, at the end of the Eighty Years War with Spain in 1648 and spanning throughout the 17th century, arose as significant new cultural, political and economic force. The change in the balance of power, for the first time in modern history, were handed to the bourgeois. This was one of the consequences of the Republic’s independence. Because of this change, there were vast repercussions on the art market. The most thriving nation in Europe was the new Dutch Republic who let in science, art and trade. The unique factor of this period is the conception of different types of paintings. Majority of the artists produced most of their work within one of these. Inherited from Early Netherlandish painting, most of the work that the

The colonial division of labor was the tool of choice that European power’s used to develop their infant industries to become competitive on the global market. Before the European or western rise to power, China and India were the dominant forces in global trade, exporting some of the finest products worldwide. The fall of the Chinese and Indian trade dominance coincided with the rise of European colonizing. Through the colonial division of labor, European colonizers were able to exploit their colonies for cheap resources to

When the British arrived in India in the 1600s, they did not arrive as colonizers. British came to India as a ‘small commercial group’ to trade. The British started to show significant commercial and economic influence on India by building the East India Company. Through this, the British officially started to pursue economic interests. In the 1750s, the British reached a point where they were able to inflict harm to the Indians as the East India Company kept on developing and occupied a crucial position in the Indian economy. In the 1800s, the British succeeded in becoming the strongest party in India by expanding their influence into the political sphere.

In the 17th century, European countries were vying with each other’s to create colonies overseas. Trans-Atlantic trade brought in more competitors in slave trade like the Dutch, French, and Englishmen after the Portuguese were

In the 18th century during the gradual decline of the VOC, production interests were shifted to production of coffee and sugar in Java which also to a “greater interference in Javanese politics” (Reid, Anthony). Moreover, upon the arrival of the Dutch, “the VOC became the arbiter in dynastic disputes and in conflicts between rival rulers…inevitably emerged as the main political entity in the archipelago” (Encyclopedia Britannica). Once advanced community structures developed, a variation of ethnicities (Chinese and Europeans, trading ships from China, Arabia and India) inhabited the Archipelago. Visitors in the 18th century reported Batavia trading docks were “always full of the flags of all nations, attracted by profit they are sure to make by it” (Haniggan, Tim). Thus implying that as a variety of trading ships were originating from differing countries, Indonesia was excelling as spices were valuable and were exchanged with “new export commodities with its naval or maritime dominance, the VOC, which was the preeminent presence of the regional commerce networks” (Haniggan, Tim). Furthermore, educational programs, governmental foundations, and ameliorated policies contributed to strengthened nationalism and political justices. By 1901 the Dutch Queen Wilhelmina proposed a new Ethical Policy which would be applied