In the Middle Ages, much of Europe was sparsely populated. People lived in small settlements separated by lawless wilderness, so they had to be self-reliant.
Category: history of trade and commerce
The End of Feudalism
Feudalism ended when the factors that had supported it disappeared: small and isolated populations, limited markets, the dominance of the knight in warfare.
The Discovery of the Sea I
The discovery of the world’s sea routes was ultimately driven by the desire of Europeans to directly access Asia’s trade network.
Economic Ideology and the Glorious Revolution
At the time of the Glorious Revolution, an ideology that emphasized the value of labour pushed aside an ideology that justified the power of the landowners.
The Industrial Revolution
Britain experienced a period of rapid technological progress that forever changed the nature of work, and that allowed it to dominate markets around the world.
Why Did the Industrial Revolution Happen in Britain in the Eighteenth Century?
The Industrial Revolution occurred because labour was expensive relative to capital and coal, making technologies that replaced labour with machines profitable.
The Nineteenth-Century Rules for Growth
Britain’s first-mover advantage meant that other countries could not compete with it under free markets. They responded with a variety of protective policies.
The Division of the World
W. Arthur Lewis explained why the world divided into manufacturers and primary producers, and into prosperous temperate countries and poor tropical countries.
More on the Division of the World
Long-distance trade grew rapidly during the 19th century, widening the gap between the per capita incomes of the West and the Third World.
The Transformation of Japan after the Meiji Restoration
Japan was a feudal economy in 1868. Over the next few decades it completely transformed itself to become one of the leading nations of the world.