By P Emmer, O Petre-Grenouilleau, Jessica Roitman
The consequences of the growth of Europe have involved historians and economists, in addition to the general public at huge, for hundreds of years. the most exciting and debatable results of Europe's growth has been the alternate that resulted from this stream out of Europe and into different areas of the area. The function of overseas alternate in Europe's financial development and particularly in its industrialization has lengthy been hotly contested. This quantity has as its element of departure the concept that the hyperlink among colonial alternate and the advance of Europe used to be even more complicated than hitherto believed. simply because this hyperlink is so complicated, this quantity comprises essays by way of numerous experts to evaluate the hot instructions within the historiography. furthermore, this quantity examines the controversy at the influence of colonial exchange on international locations comparable to Spain, Portugal, the Netherlands, Denmark, and Sweden, that are often overlooked in prefer of debate approximately Britain.
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Extra info for A Deus Ex Machina Revisited: Atlantic Colonial Trade and European Economic Development
On the whole (and with the conspicuous exceptions of maize, potatoes, and cotton ﬁbers) imports merely supplemented supplies of the continents’ own basic foodstuﬀs and raw materials. Imports were dominated by tropical groceries and manufactured luxuries. At most they embodied attributes that scholars ﬁnd appealing to place at the centre of their narratives about the origins of the North-South divide. It is clear that the Great Divergence and the Industrial Revolution form part of an interconnected narrative.
Moreover, exports to the colonies only reached the value of 100 million livres tournois at the end of the 18th century. In addition, the contribution of the various sectors of the metropolitan economy in providing goods to the colonies was unequal. The Caribbean islands consumed 75% to 80% of all exported ﬂour, 20% of all exported wines, and 10% of all exported brandy. These volumes are not small, but they 6 French ports worked in a very cosmopolitan way. Moreover, military spending by the monarchy sent a lot of money abroad—money that was then used by foreigners for trade.
It should also be noted that there were diﬀerent types of colonies. In the beginning of European exploration, there were primarily small landing areas, which were used only as points of embarkation for further exploration and/or for the simple exchange of goods. In the mid to latter part of the 17th century, in contrast, there began to appear some established settlements with a sizeable presence of European immigrants and their descendants, as well as with established farming, which produced the basic necessities for subsistence.
A Deus Ex Machina Revisited: Atlantic Colonial Trade and European Economic Development by P Emmer, O Petre-Grenouilleau, Jessica Roitman