World trade since 1431

Equipped with reliable maps and instruments for open-ocean navigation and highly seaworthy, three-masted, cannon-armed ships, Portugal dominated the Atlantic trade routes--until the diffusion of Portuguese technologies to wealthier polities made Holland the eventual successor, owing to its geographic position and its immense commercial fleet. It is precisely this interplay of technology and geography, argues Peter J. Hugill, that has guided the evolution of the modern global capitalistic system. Tracing the relationship between technology and economy over the past 550 years, Hugill finds that the nations that developed and marketed new technologies best were the nations that rose to world power, while those that held onto outdated technologies fell behind. Moreover, he argues, major changes in transportation and communication technologies actually constituted the moments of transformation from one world economy to another.

First sentence: Although much has been written over a very long time on the development of capitalism, it has often been far too abstract and theoretical.

Year

1993

Language

English

Publisher

The Johns Hopkins University Press

Editions

1

Pages

400

ISBN

9780801851261

Data source: Wikidata