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									                              Chapter 17: Europe and the New World Economy, 1400–1650


                  Chapter Outline
I. Capitalism
II. Absolutism: Louis XIV
III. The Gravitational Pull of French Absolutism
IV. Holland and England
V. Breaking the Bank: Diplomacy and War,
    1650–1774
VI. Louis XV and the Decline of Absolutism,
    1715–1774




                                     Brummett, et al, Civilization, Past & Present
                         Chapter 17: Europe and the New World Economy, 1400–1650


I. Capitalism

   A. Expanding Capitalism

      Banks
         Fuggers, Augsburg
         Bank of Amsterdam, 1609
         Bank of England, 1694

      Joint-stock Companies

      East India Companies
         (English, Dutch, French)
         Austria, Prussia




                 Brummett, et al, Civilization, Past & Present, Part One; Classical Origins
                            Chapter 17: Europe and the New World Economy, 1400–1650


I. Capitalism

B. Free Enterprise

   Capitalistic agriculture
     Jethro Tull (1674–1741)
         Charles Townshend (1674–1738)
     Robert Bakewell (1725–95)
     Arthur Young (1741–1820)

      Enclosure Act
        1750–1800 — 40–50,000 small
           farms lost

   Domestic System
     from 1500

   Lloyds of London, 1688

   Stock Exchanges
      London, 1698
      Bourse, Paris, 1724




                     Brummett, et al, Civilization, Past & Present, Part One; Classical Origins
                             Chapter 17: Europe and the New World Economy, 1400–1650

I. Capitalism

C. Social Crises                                                   1650             1700         1800

   Privileged Classes                         Europe                                       118          185
      First and Second Estates, France
      less than 2%                            England                       5                            9
   Peasants, 80%
   French Third Estate                        France                      21                            28
      diverse
                                              Russia                      17                            36
D. Protests, Riots, Rebellions
   1700s— 73 peasant rebellions               Italy                       11                            19
   Russia, Pugachev revolt, 1773–75




                    Brummett, et al, Civilization, Past & Present, Part One; Classical Origins
                            Chapter 17: Europe and the New World Economy, 1400–1650


II. Absolutism: Louis XIV


   A. Foundations of Absolutism
      Jacques Bossuet
      Thomas Hobbes (1588–1679)
         Leviathan
      Louis XIII
         Marie de’ Medici
      Louis XIV (1643–1715)
         Cardinal Richelieu (1585–1642)
         Cardinal Mazarin (1602–1661)
            The Fronde (1649–1653)

   B. The Mechanics of French Absolutism

      Versailles
      Mercantilism
         Jean-Baptiste Colbert (1619–83)
         Bullionism




                 Brummett, et al, Civilization, Past & Present, Part One; Classical Origins
                          Chapter 17: Europe and the New World Economy, 1400–1650


III. The Gravitational Pull of French Absolutism

   A. The Germanic Satellites
      300 + Sovereign states

   B. Scandinavia
      Frederick III (1648–70), Denmark
      Charles XI (1660–97), Sweden

   C. Iberia
       Weak monarchies
          Alfonso VI (1656–68), Portugal
          Charles II (1665–1700, Spain

      Portugal
         Pedro II (1683–1706)
         John V (1706–50)

      Spain
         Philip V (1700–46)




                  Brummett, et al, Civilization, Past & Present, Part One; Classical Origins
                              Chapter 17: Europe and the New World Economy, 1400–1650

III. The Gravitational Pull of French Absolutism

D. Habsburgs
     Leopold I (1657–1705)
     Maria Theresa (1740–80)
        Count Haugwitz, Minister

E. Poland: The Last Medieval State

F. Prussia
      Hohenzollerns
      Frederick William (1640–88)
      Frederick I (1688–1713)
      Frederick William I (1713–40)
           General Directory
             civil service
             supreme court
             nobles taxed
      Frederick II (1740–86)

G. Russian Autocracy
      Peter I (1682–1725)



                      Brummett, et al, Civilization, Past & Present, Part One; Classical Origins
                            Chapter 17: Europe and the New World Economy, 1400–1650

G. Russian Autocracy
      Peter I (1682–1725)




                     Brummett, et al, Civilization, Past & Present, Part One; Classical Origins
                          Chapter 17: Europe and the New World Economy, 1400–1650

IV. Holland and England                            D. Restoration and the “Glorious Revolution”
                                                      Charles II (1660–85)
   A. The Dutch Experiment
                                                      James II (1685–88), Catholic
      John Oldenbarnveldt (1547–1619)
                                                      crown to Mary Stuart, William of Orange
   B. The English Debate (1603–88)                       = “Glorious Revolution”
      James I (1603–25)                                  Bill of Rights
         1628— Petition of Right
         1629–40 — no Parliament                   E. Whigs and Tories
         1640 — “Short Parliament”                    Hanoverians
                                                        George I (1714–27)
      “Long Parliament” — 20 years                      George II (1727–60)
   C. Civil War                                       Robert Walpole
      Parliament v. Royalists                           First Prime Minister
      Oliver Cromwell (1599–1658)                     George III (1760–1820)
      1646 — Charles king                               Tories (conservatives)
          1648— executed                                George Grenville (1712–70)
      Levellers — outlawed                                  minister
      “Rump Parliament”
      Cromwell, Lord Protector
      Institute of Government, 1653




                 Brummett, et al, Civilization, Past & Present, Part One; Classical Origins
                             Chapter 17: Europe and the New World Economy, 1400–1650


V. Breaking the Bank: Diplomacy and War,
    1650–1774

   A. Westphalia to Utrecht: The Dominance
        of France

      Great Northern War (1709–21)
        Russia v. Sweden

      War of the Spanish Succession (1701–13)
        Role of Women
            Sarah Churchill
            Mary of Modena
            Madame de Maintenon
            Princess des Ursins

         Treaty of Utrecht (1713)
            Philip V, King of Spain




                     Brummett, et al, Civilization, Past & Present, Part One; Classical Origins
                               Chapter 17: Europe and the New World Economy, 1400–1650

V. Breaking the Bank: Diplomacy and War

B. From Utrecht to Paris: An
      Unstable Balance

   1739—1748— “War of Jenkins’s Ear”
      Peace of Aix-la-Chapelle, 1748

   1756–1763— Seven Years’ War
      Peace of Paris, 1763
         France loses North American
           lands

C. Economic Challenges

   Mercantilism
     smugglers
        often 50%+ of imports

   Crisis of Public Finance
      Britain, state debt 13 m pounds




                   Brummett, et al, Civilization, Past & Present, Part One; Classical Origins
                         Chapter 17: Europe and the New World Economy, 1400–1650


VI. Louis XV and the Decline of Absolutism,
   1715–1774

   Louis XV (1715–74)
     Cardinal Fleur, minister
     Madame de Pompadour
         Jeanne-Antoinette Poisson

   Debt
     interest: 50%+ of income




                 Brummett, et al, Civilization, Past & Present, Part One; Classical Origins

								
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