Mercantilism: The Rise Of The British Empire
During mercantilism conles provided constant source of raw material which became market for manufactured good to Britain. for example , colonist cut down tree and would send over sea for craftsman to produce furniture , paper , barrels and tools. these good would be send back to these colonies for profit. This process helped England establish a balance of trade which England would sell most of product to other countries in exchange for gold and silver which helped build British Empire.
British Empire was founded in the age of mercantilism , mercantilism need partnership of government and the merchant with one goal of increasing wealth and political power. The government protect its merchant through trading issues , regulation and subsidies to domestic industries in order to increase export. The main economic theory of mercantilism is to increase trade for one empire and weaken rival empire.
The 18th century undergo degree of regional specialization , the economic advance of the eighteenth century were based on easier exchange between industrial and agricultural are between country and town which allowed specialization to take place and allowed cost- saving implication. due to Britain no internal tariff barriers also kept cost low and increase the growth of commerce. This plan was passed oversea , that the main drive of earlier of the …show more content…
North American tobacco, Canada fur , West Indian tea , Indian colicos, and spices, , Chinese tea and sugar Plantation Island of the Caribbean were exchanged for Baltic timber and tar , Swedish iron and, increasingly from the 1780s European grain.All these exchange help change Britain empire to become power.slave exchange also helped Britain create their empire, it has been estimated that more than half of slave trade took during the 18 century . Even though in 1807 , British government passed an act of parliament banning the slave through the British Empire , but slavery itself would still continue until the abolition in 1838. Many sold into slavery were working on plantation in British colonies , where Hugh area of plantation produced product such as sugar from Caribbean and tobacco from America. many historians believe slave trade was the main contribution to England economy and the rise of consumerism. Slave owner and merchant who dealt with slave were the richest people in the 18 century , Liverpool merchant banker who were involved in the slave based trade to early cotton manufacturers. Britain capitalism development was plantation growth and industrial growth , the plantation colonies supplied the mother country in this case Britain with popular luxuries such as dyestuff, sugar , tobacco and then later coffee and chocolate that helped Britain