from Part II - Factors Governing Differential Outcomes in the Global Economy
Published online by Cambridge University Press: 03 June 2021
This chapter shows how developments in military technology and strategy since the 1600s joined the political ambitions of states and merchants’ commercial interests to create European rules in Asia, Africa, and Latin America. Why did warfare in early modern times produce this outcome? Wars and empires had existed before. The European warfare outside Europe, the chapter suggests, could exploit more resources than the other major powers in Eurasia could, leading to decisive shifts in the balance of power. At the same time, trade entailed violence, whether we consider the Atlantic slave trade or the impact of European wars upon the actions of the Indian Ocean merchant firms. A final section asks how empires shaped economic change in the world; and shows that the emergence of empires had lasting effects on commercialization, though direct effects on living standards until 1870 were ambiguous.
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