Exports for Precious Metals: Mercantilism in the Early Modern World

Mercantilism was a political movement and an economic theory, dominant in Europe between 1600 and 1800. Introduction Mercantilism is an economic system that dominated the major European trading nations during the sixteenth, seventeenth, and eighteenth centuries. This “mercantile system” was based on the premise that national wealth and power were best served by increasing exports[…]

Ancient “Poop Sticks” Offer Clues to the Spread of Disease along the Silk Road

The parasites found within the 2,000-year-old-feces smeared on bamboo suggest more than commodities made the trip. By Jason Daley The Silk Road was a network of ancient commerce, connecting China with central Asia, the Middle East and the Mediterranean. It was established by the Han Dynasty in 130 B.C. and operated until 1453 when the Ottoman Empire[…]

Oxyfuel Cutting – The Best Way to Form Accurate Sized Material

Let’s make us familiar with an industrial process of cutting different metals – Oxyfuel Cutting. This thermal process is considered highly economical across the globe for several reasons. One can understand it by delving into the entire procedure and getting known of everything related to oxyfuel flame cutting. The process takes the help of oxygen[…]

An Historical Overview of Ancient Economic Thought

Discussions of economics have existed since ancient times but it was not a separate discipline until the nineteenth century. Introduction In the history of economic thought, early economic thought refers to ideas from before and during the Middle Ages. The earliest discussions of economics date back to ancient times, such as Chanakya’s Arthashastra or Xenophon’s[…]

Ctesiphon: Urban Trade Center in Ancient and Early Medieval Persia

The city became an important center for trade along the Silk Road. Introduction Ctesiphon was an ancient city and trade center on the east bank of the Tigris River founded during the reign of Mithridates I (the Great, 171-132 BCE). It is best known in the modern day for the single-span arch, Taq Kasra, which[…]

A History of Guilds from the Medieval Era

Guilds started as small associations of skilled artisans, experienced and confirmed experts in their field of handicraft. Introduction A guild is an association of craftspeople in a particular trade. The earliest guilds may have been formed in India circa 3800 B.C.E., and certainly existed in Roman times. They particularly flourished in Medieval Europe, where they[…]

Medieval Trades

Trades and trading practices varied over time and place throughout the Middle Ages. By Mark CartwrightHistorian Introduction Many trades in medieval times were essential to the daily welfare of the community and those who had learned a skill through apprenticeship could expect to make a higher and more regular income than farmers or even soldiers.[…]

International Trade and Institutional Change: Medieval Venice’s Response to Globalization

Starting in 1297, a small group of particularly wealthy merchants blocked political and economic competition. Abstract International trade can have profound effects on domestic institutions. We examine this proposition in the context of medieval Venice circa 800–1600. Early on, the growth of long-distance trade enriched a broad group of merchants who used their newfound economic[…]

China’s Ancient Silk Road

The Silk Road was a vast trade network connecting Eurasia and North Africa via land and sea routes. Introduction In the first century CE, during the reign of Emperor Tiberius, silk had become a big problem. The luxury fabric, imported at great cost from China, had become a symbol of decadence and excess among Romans.[…]

The Economy of Ancient Greece

Direct taxation was not well-developed in ancient Greece. Introduction The economy of ancient Greece was defined largely by the region’s dependence on imported goods. As a result of the poor quality of Greece’s soil, agricultural trade was of particular importance. The impact of limited crop production was somewhat offset by Greece’s paramount location, as its[…]

The Gold Trade of Ancient and Medieval West Africa

The trade of gold in West Africa goes back to antiquity. By Mark CartwrightHistorian Introduction West Africa was one of the world’s greatest producers of gold in the Middle Ages. Trade in the metal went back to antiquity but when the camel caravans of the Sahara linked North Africa to the savannah interior, the trade[…]

Trade, Diplomacy, and Transformation in China in the 19th and 20th Centuries

Exploring how China’s economic and diplomatic ties to the outside world shaped its modern history. Introduction For centuries, China’s encounters with the foreign lands and peoples involved the commercial exchange of goods. The Chinese attitude towards trade viewed it as desirable, within a structured and regulated framework. Prior to the establishment of the People’s Republic[…]

How Did a Cockatoo Reach 13th-Century Sicily?

Images of a cockatoo in Frederick II of Sicily’s falconry book reveal how trade routes around Australia’s north were flourishing as far back as medieval times. Introduction Among the hand-written documents, books, and ancient artefacts in the Vatican Library is a 13th century manuscript on falconry written in Latin by or for the Holy Roman[…]

The North Carolina Trucker Who Brought the World to America in a Box

How Malcolm McLean’s shipping containers conquered the global economy by land and sea. On April 26, 1956, a crane lifted 58 aluminum truck bodies onto the deck of an aging tanker ship moored in Newark, New Jersey. Five days later, the Ideal-X sailed into Houston, Texas, where waiting trucks collected the containers for delivery to local factories[…]

Pierre Poivre, the French Spice Quest and the Role of Mediators in Southeast Asia, 1740s to 1770s

Examining the connectedness and transnational interactions in the French spice project through the lens of Poivre’s informal networks. “One of these rare men, who reflect about things which are really useful, and who does not abandon a project until it is finished, had decided to bring wealth to France, his homeland, with the help of[…]

Technological Transfer and Innovation in Ancient Eurasia

Cultural, economic, and knowledge transfer occurred in spite of a seemingly long series of hurdles that had to be overcome. Introduction The pre-modern transfer of knowledge within Eurasia had to contend with a complex set of both physical and mental obstacles. Deserts, mountains and oceans had to be crossed, but so too did language barriers[…]

Ancient and Medieval China’s Silk Road

The European explorer Marco Polo (1254-1324 CE) traveled on these routes and described them in depth in his famous work. Introduction The Silk Road was an ancient network of trade routes, formally established during the Han Dynasty of China, which linked the regions of the ancient world in commerce between 130 BCE-1453 CE. As the Silk Road was not[…]

Trade in Medieval Europe

The full range of consumer goods of the period was set out to tempt the shopper and small retailer. By Mark CartwrightHistorian Introduction Trade and commerce in the medieval world developed to such an extent that even relatively small communities had access to weekly markets and, perhaps a day’s travel away, larger but less frequent[…]

North Africa’s Place in the Mediterranean Economy of Late Antiquity

The Mediterranean Sea was the economic focal point of the Roman Empire. By Michael GoodyearJ.D. CandidateUniversity of Michigan Law School Introduction The Mediterranean Sea was the economic focal point of the Roman Empire. Rome’s armies first established an empire across these waters beginning back in the times of the Roman Republic. In 200 CE, the Mediterranean[…]

The Economy of Ptolemaic Egypt

The wealth of Egypt was owed in large part to the unrivaled fertility of the Nile. By Arienne KingHistorian Introduction Ptolemaic Egypt rapidly established itself as an economic powerhouse of the ancient world at the end of the 4th century BCE. The wealth of Egypt was owed in large part to the unrivalled fertility of[…]

Free Trade in the Ancient Middle East

For a long time, Baghdad was one of the wealthiest cities in the world. Today many people believe that free markets and industrialization are new inventions. In fact, during the early Middle Ages a market model developed in the Islamic world. Europeans envied the economic, scientific and intellectual progress taking place in the Middle East[…]

The Prehistoric Origins and Historic Growth of the Silk Road

The Silk Road provided a conduit not only for silk, but also offered a very important path for cultural, religious and technological transmission. Introduction The Silk Road was an extensive interconnected network of trade routes across the Asian continent connecting East, South, and Western Asia with the Mediterranean world, including North Africa and Europe. These trade routes enabled[…]

Safavid Trade during the 17th Century: Iran’s Transit Economy

Analyzing the role that the Safavid economy played within the rapidly developing global economic system. By Connor J. HamelCompetitive Intelligence AnalystAccenture Federal Services Introduction The seventeenth century ushered in a plethora of changes in global trade patterns. These fluctuating trade patterns began to generate nascent economic, political, and social trends the likes of which had[…]

The End of China’s Canton Trade System

Despite their common interests, relations between the foreigners and the Chinese community grew more tense during the early 19th century. Despite their common interests, relations between the foreigners and the Chinese community grew more tense during the early 19th century. The increasing amount of trade and larger number of ships inevitably brought more conflict. The[…]

The Canton Trade System in China in the 18th and 19th Centuries

Canton’s foreign quarter, sited between the city wall and the river, fit comfortably into the classic design of south Chinese cities. Canton Trade Introduction During the passage from Macau up the Pearl River foreigners passed through densely populated agricultural lands and market towns, but they never saw a major city until they reached Guangzhou. We[…]