- Age of Exploration (Repaired)
- Age of Exploration (Repaired)
Mercantilism
● It is often said that Europe’s main motives for exploration from the 1400s through the 1700s were “God,
gold, and glory.” Both the “gold” and “glory” part of that can be explained by mercantilism.
● Mercantilism was the idea that the overall wealth and power of a nation was based on the amount of
gold and silver they had. The more gold, the more power.
● There were three ways for a nation to get more gold and silver:
○ Get some colonies and mine for gold or silver.
○ Become a manufacturing giant and sell lots of products to other nations. (This is much easier to
do with colonies.)
○ Get some colonies and establish a favorable balance of trade in order to make gold or silver.
● A favorable balance of trade means that a nation exports (sells) more than they import (buys/brings in
to the country), thereby making money. In the 1500-1600s, the best way to do this was to exploit (or
take advantage) some colonies. The mother country would take (or buy at a cheap price) raw materials
grown in the colony. They would then turn the raw materials into finished projects and sell those
products back to their colony.
● For this to work, the mother country must have manufacturing capability. It is also important to make
sure that the colony does not develop any of its own manufacturing, that way the colony is always
dependent on the mother country for finished goods.
● It is also important to prevent the colonies from trading with other manufacturing nations in order for this
to work.