I.             Britain on the rise

A.    Victories over France

B.    Colonial benefits – outlet for population, LAND!

C.    Slavery growth – sugar, transplanted slavery in “US”, tobacco, 4 million US slaves/20% of population

D.   Colonial population booms in 1700s (10X in 75 years); high standard of living

E.    Mercantilism

1.    Monopoly rights on tobacco/sugar

2.    continental Europe making own cottage industry to compete with British – colonies even more important; 1773 wool stat – England selling only 2/3 as much wool to continental Europe as compared to 1700

3.    colonial markets rescue by buying loads of stuff

4.    new question – how to make the loads of stuff

II.           Slave trade

A.    Increase after 1700/1750 (6.1 million shipped over in 18th century)

B.    Captives in African battles

C.    British used “shore method”

D.   Dahomey, Congo; continual ravaging created African chaos

E.    1772 English law doomed the trade; 1775 anti-slavery campaign

III.          Spain revitalized

A.    War of Spanish Succession, remember that? (had to do with Louis XIV’s grandson Philip being named heir to Spain)

B.    Louis XIV grandson, Philip V is a better leader than they’d had

C.    Revitalized – peace, royal authority reasserted, defense

D.   Spain got Louisiana from France

E.    New silver – 1/2 the world’s silver came from Spanish lands

F.    Creoles 20% -- Spaniards born in Americas

G.   Debt peonage – perpetual debt

H.    Mestizos 30% -- Spanish/Indian mix

IV.          Liberal Economics (capitalism)

A.    Complaints against mercantilism restrictions (monopolies, restrictions)

B.    Adam Smith The Wealth of Nations 1776

1.    government restrictions were bad; laissez faire rules!

2.    “natural liberty” and reasoned approach; sounds Enlightened

3.    people should have right/freedom to do whatever they wished

4.    said employers were always out to diminish or hold down wages and that they entered into groups to do just that

5.    Two main concepts: 1) competition (“invisible hand”) and 2) self interest

6.    “greater common good” would be achieved if only people did what’s best for themselves individually; “look out for #1”