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The Business of Empire

Driving Question: How did the development of new economic systems and new oceanic empires support each other?

The expansion of overseas empires changed European economic systems. In turn, these new economic systems helped Europeans operate empires like businesses. In this lesson, you’ll learn about the rise of capitalism and how this economic system helped finance imperialist ventures.

Learning Objectives:

  1. Understand why new economic systems and innovations emerged during this period.
  2. Evaluate the interactions between European empires and new economic systems.
  3. Use the historical thinking practice of continuity and change over time to assess the impact of transoceanic connections.
STEP 1

Opener: The Business of Empire

What has changed? What has stayed the same? Later in this lesson, you’ll consider these questions to review what you’ve learned over the last two units. First, get comfortable with this this way of thinking, which is called continuity and change over time (CCOT).

STEP 2

The Global Silver Trade

The Spanish Empire extracted huge amounts of silver from their colonies in the Americas. The sudden abundance of this precious metal totally reshaped global economic patterns.

The Spanish Empire, Silver, & Runaway Inflation: Crash Course World History #25 External link

The Spanish went looking for gold in the Americas, but they actually found silver. Unfortunately, all that silver led to death, inflation, and other not-so-good things.

Key Ideas

As this video progresses, key ideas will be introduced to invoke discussion.
STEP 3

Capitalism and Empire

Teaching Tools

Want some additional resources to use when teaching Our Interconnected World? Check out this conversation in the OER Project Teacher Community External link .

The emerging system of capitalism supported the expansion of European empires—just as those empires helped expand the system of capitalism. These articles and activity will help you see the global connections that made it all possible.

STEP 4

Continuity and Change Over Time: Transoceanic Connections

Teaching Tools

Want to know more about OER Project’s approach to CCOT? Take a look at this one-pager.

We’ve already discussed the importance of understanding how things change—or don’t change—over time. In this activity, you’ll get to practice this skill.

STEP 5

Closer: The Business of Empire

In this unit, you’ve learned about how the world transformed as a result of new global connections. Now, it’s time to reflect on how what you’ve learned has changed what you think.

Extension Materials
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You’ve already met the English East India company in this lesson, now extend your learning by examining the Dutch East India Company, which dominated the spice trade in Southeast Asia.
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The Dutch East India Company

Sometimes, to be successful you have to think outside of the box. That’s exactly what the Dutch East India Company did to dominate the spice trade in Southeast Asia.

Capitalism and the Dutch East India Company: Crash Course World History #229 External link

For a time, the Dutch East India company dominated the spice trade in southeast Asia, using some clever financial innovations. But was this capitalism or something else?

Key Ideas

As this video progresses, key ideas will be introduced to invoke discussion.