EC120 week 04, topic 3, slide 1 Voyages of discovery: Europe looks East and West Topics: • Economic aspects of imperialism • European expansion and imperialism • Portugal • Spain and the New World • Rest of the World • The Spice Trade • Analysis and implications • Spain and Portugal: onset of economic decline
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EC120 week 04, topic 3, slide 0 Voyages of discovery: Europe looks East and West Topics: Economic aspects of imperialism European expansion and imperialism.
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EC120 week 04, topic 3, slide 1
Voyages of discovery: Europe looks East and West
Topics:• Economic aspects of imperialism• European expansion and imperialism• Portugal• Spain and the New World • Rest of the World• The Spice Trade• Analysis and implications• Spain and Portugal: onset of economic decline
Economic aspects of Imperialism
• Empire: a form of state rule via external domination
• Motives: include economic objectives, among others
• Opportunities: stem from unequal initial distribution of power
• Means: typically coercion –force on land and sea
• Was it worth it? Did the benefits exceed the costs?
EC120 week 04, topic 3, slide 2
EC120 week 04, topic 3, slide 3
European Expansion & Imperialism• Early European excursions: tentative, not
sustained
• Overseas probing by Portugal & Spain enabled acquisition of overseas possessions
• Dutch & British trading empires expand in 17C & 18C