Question bank: European Maritime Expansion: Mercantilism

During the period of European Maritime Expansion, the search for new trade routes, the accumulation of wealth, and the competition among monarchies developed under the auspices of an economic system known as mercantilism. This system maintained that a nation's wealth and power were directly linked to the amount of precious metals it held and its ability to export more than import. Portugal and Spain, pioneers in this movement, extensively explored maritime routes and conquered vast territories. From this perspective, historian John Smith, in his classic study on mercantilism, states that 'the competition among European maritime powers not only drove the great navigations but also reshaped economic, political, and cultural relations on a global scale.' Based on this statement and your knowledge:

During the early modern period, Europe witnessed a remarkable maritime expansion driven by technological innovations, commercial ambitions, and the development of a new economic model, mercantilism. The latter, characterized by the political and economic centralization of the State and the pursuit of precious metals, played a significant role in financing discovery voyages and in the division of newly found lands among maritime powers. Adam Smith, in his work 'The Wealth of Nations,' describes this period of expansion as 'the pursuit of commercial routes and the establishment of colonies as the two ways in which the opulence of the original world was both increased and redistributed.' Based on this context and Adam Smith's quote, answer: 1) How did the principles of mercantilism encourage European nations to invest in maritime explorations and how did this new economic perspective influence the division and conquest of overseas lands? 2) Explain how Portugal and Spain's pioneering in establishing commercial routes and colonies reflects mercantilist ideas in action.

European maritime expansion, driven by technological and economic innovations, was a complex phenomenon that began in the 15th century and brought significant cultural, economic, and political transformations to both the European continent and the 'discovered' regions. In this context, mercantilism emerged as an economic doctrine that sought the accumulation of wealth in the hands of the State, and the voyages of discovery were an important instrument for the realization of this principle. Adam Smith, in his work 'The Wealth of Nations,' criticized mercantilism, stating that 'the wealth of a nation has never been made by the amount of metals it possesses, but by the industrious skill of its inhabitants.' Based on Smith's excerpt and your knowledge: (1) Present two economic factors that contributed to the beginning of the Age of Exploration and how they related to mercantilist principles. (2) Explain to what extent Portugal and Spain's pioneering role in establishing trade routes and colonies can be understood in light of Adam Smith's criticisms of mercantilism.

During the Modern Age, the Great Navigations marked a new era of discoveries and territorial expansion. This movement was driven by various factors, including the search for new trade routes, the desire to expand borders, and the spread of the Christian faith. In his book 'The Clash of Civilizations,' historian Samuel P. Huntington argues that 'European expansion and the Great Navigations were the events that most influenced the formation of the modern world.' Discuss how the motivations and pioneering efforts of Portugal and Spain in the Great Navigations influenced the configuration of the modern world, highlighting the importance of these events in the interaction between different peoples and civilizations. Also, consider the implications of these processes in the transformation of trade and international relations at the time.

During the 16th century, the European maritime expansion reached its peak, driven by a set of economic, technological, and political factors. Mercantilism, the predominant economic system at the time, supported the idea that a nation's wealth was directly linked to its economic power, especially through the accumulation of precious metals. In this context, Portugal and Spain emerged as pioneers of the great navigations, which led to the discovery of new lands, trade routes, and the formation of colonial empires. Evaluate the following excerpt, authored by historian Roberto Bedmar, in the light of the presented context, and answer the proposed questions: 'Maritime expansion was not just an act of geographic curiosity, but an economic and political imperative. The Iberian crowns, mainly Portugal and Spain, heavily invested in naval technology and the exploration of new trade routes, aiming not only at expanding their territories, but at accumulating wealth to sustain their states and their political and military ambitions.' (Roberto Bedmar, 'The Age of Navigations', 2010)