Month: November 2024

During the seventeenth and eighteenth centuries, the pursuit of wealth and power through global trade drove European empires to seek direct access to lucrative goods like spices, sugar, and tobacco, reshaping economies and societies across continents. In Ming China, the introduction of a silver tax intensified demand for silver with severe social consequences, while in the Americas, labour-intensive crops spurred the brutal reliance on enslaved Africans. As European powers like the Dutch and English East India Companies clashed over trade monopolies, joint stock companies emerged, allowing broader public investment and profit-sharing. This new economic structure, alongside the crown’s reliance on commercial success, laid the groundwork for modern capitalism and its enduring global influence.