Summary
This chapter traces the economic and political transformation of the world from the 15th to 20th centuries, beginning with European geographical expeditions and culminating in the emergence of modern capitalism and global conflicts.
Key Historical Progression:
- 15th-16th Century: European geographical expeditions led by Portugal and Spain
- 16th-18th Century: Colonial expansion and mercantilism
- 18th-19th Century: Industrial Revolution and rise of capitalism
- 19th-20th Century: Imperialism, World Wars, and emergence of new economic systems
Question and Answer Study Material
Section A: Geographical Expeditions (15th-16th Century)
Q1. What were the two significant events that launched geographical expeditions in the 15th century?
Answer: The two significant events were:
- The conquest of Constantinople by the Turks, which blocked the traditional trade route for spices like pepper
- The arrival of Portuguese sailors at the Guinea Coast in Africa, marking the beginning of African exploration
Q2. Why were Europeans particularly interested in finding new trade routes to Asia?
Answer: Europeans were dependent on Asian spices, especially pepper, for food preservation and medicinal purposes. When the Turks captured Constantinople, the traditional trade route was blocked, forcing Europeans to find alternative sea routes to access these valuable commodities.
Q3. Which factors enabled European nations to undertake successful expeditions?
Answer: The enabling factors included:
- Building advanced ships capable of crossing vast oceans
- Invention of the compass and navigational tools
- Patronage of rulers
- Strong military power
- Extensive seafaring experience
- Advances in cartography and astronomy
Q4. Describe the significance of Vasco da Gama's voyage.
Answer: In 1498, Vasco da Gama successfully sailed around the Cape of Good Hope and reached Kappad in Kozhikode, India. This marked the beginning of European domination in India and established the first direct sea route from Europe to Asia.
Q5. How did America get its name?
Answer: After Christopher Columbus reached the Bahamas in 1492 (mistakenly thinking he had reached India), Italian explorer Amerigo Vespucci realized this was a new continent. In 1507, German cartographer Martin Waldseemüller named the region "America" in honor of Amerigo Vespucci.
Section B: Colonial Policies and Mercantilism
Q6. What is mercantilism? Explain its key features.
Answer: Mercantilism was an economic policy where nations aimed to accumulate wealth, primarily gold and silver (bullion), through trade. Key features included:
- Measuring national wealth by the amount of gold and silver possessed
- Reducing imports and increasing exports
- Preserving national wealth by preventing its outflow
- Competing with other nations to accumulate precious metals
Q7. How did Portuguese and Spanish colonial policies differ from Dutch and English approaches?
Answer:
- Portuguese and Spanish: Direct control by the king, focused on extracting gold and silver, used wealth for building palaces
- Dutch and English: Conducted trade through joint-stock companies, reinvested profits back into businesses, contributing to industrial growth
Q8. What was the triangular trade system?
Answer: The triangular trade system connected Europe, Africa, and the Americas:
- European products were sent to Africa
- Enslaved people were purchased in Africa and transported to the Americas
- Goods like sugar, wine, and cotton were shipped from the Americas to Europe
Section C: Industrial Revolution
Q9. What was the Industrial Revolution and when did it occur?
Answer: The Industrial Revolution refers to the changes in the production process between 1780 and 1850, characterized by:
- Mechanized production using machines
- Mass production in factories
- Use of steam as energy source
- Development of transport facilities
- Shift from cottage-based to factory-based production
Q10. What was the Agrarian Revolution and how did it contribute to industrialization?
Answer: The Agrarian Revolution in 17th century England involved:
- Consolidation of small farms into large farms (Enclosure Movement)
- Introduction of crop rotation
- Use of new agricultural implements
- Increased food production, which supported the growing industrial population
Q11. Compare merchant capitalism with industrial capitalism.
Answer:
- Merchant Capitalism: Merchants supplied raw materials to rural artisans, who produced goods in cottages. Merchants acted as intermediaries between producers and consumers.
- Industrial Capitalism: Wealthy individuals invested in factories and machinery, employing workers for mass production. Owners made profits from industrial production rather than trade intermediation.
Q12. What were the positive and negative effects of the Industrial Revolution?
Answer: Positive Effects:
- Rise of factories and increased production
- New employment opportunities
- Rise of cities and urbanization
- Better living conditions for some
Negative Effects:
- Exploitation of laborers
- Poverty and epidemics
- Long working hours and low wages for women and children
- Rise of slums
- Polluted and crowded cities
Section D: Imperialism and World Wars
Q13. Define imperialism and explain why it emerged.
Answer: Imperialism is the practice by which a country establishes and maintains political, economic, and social control over regions beyond its own borders. It emerged because:
- Industrialized countries needed raw materials from abroad
- Reduced wages at home decreased purchasing power, requiring foreign markets
- Colonies provided both raw materials and markets for manufactured goods
Q14. What were the main causes of World War I?
Answer: The main causes were:
- Imperialist Rivalry: Competition between old and new imperial powers for colonies
- Extreme Nationalism: Intense devotion to country, including movements like Pan-Slavism and Pan-Germanism
- Military Alliances: Formation of Triple Alliance (Germany, Austria-Hungary, Italy) and Triple Entente (England, France, Russia)
- Immediate Cause: Assassination of Archduke Franz Ferdinand in Sarajevo by Serbian nationalist Gavrilo Princip
Q15. What was totalitarianism and how did it manifest in Europe?
Answer: Totalitarianism is a system where the state exerts complete control over all aspects of life. Key features included:
- Rejection of democracy
- Opposition to socialism
- Supporting dictatorship
- Extreme nationalism
- Elimination of political opponents
Manifestations:
- Italy: Fascism under Benito Mussolini (1922)
- Germany: Nazism under Adolf Hitler (1933)
Q16. What were the causes of World War II?
Answer: The causes included:
- Treaty of Versailles: Harsh terms imposed on Germany after WWI
- Failure of League of Nations: Unable to prevent aggression by Japan, Italy, and Germany
- Policy of Appeasement: Western powers' policy of giving in to Hitler's demands
- Military Alliances: Formation of Axis Powers (Germany, Italy, Japan) vs Allied Powers
Section E: Post-War World and Modern Economic Systems
Q17. What was the Cold War?
Answer: The Cold War was an ideological confrontation between capitalist countries (led by USA) and socialist countries (led by Soviet Union) after WWII. It lasted about half a century until the Soviet Union's disintegration in 1991.
Q18. What is Neo-Colonialism?
Answer: Neo-Colonialism is a new form of colonization where powerful countries like the USA funded newly independent countries as a form of exploitation. This was implemented through finance capitalism rather than direct political control.
Q19. Explain Finance Capitalism.
Answer: Finance Capitalism is an economic system where financial institutions (banks, insurance, stock markets) play a major role. Key features:
- Financial exchanges are more important than industrial production
- Allows accumulation of wealth without production or technological change
- Big corporations exert influence beyond military power
- Often leads to exploitation of resources and environmental problems
Q20. What were the major consequences of European expansion and colonization?
Answer: The consequences included:
- Wealth extraction from colonies to European countries
- Loss of economic and political rights by native populations
- Destruction of indigenous cultures
- Spread of Western lifestyles and Christianity
- Introduction of slavery and slave trade
- Economic transformation from feudalism to capitalism
- Industrial development in Europe
- Environmental exploitation
Key Terms and Definitions
- Colonization: Process by which a country establishes dominion in an alien country
- Joint Stock Company: Companies established by pooling capital from various sources
- Bullion: Silver and gold collected as wealth
- Mercantilism: Economic policy focusing on accumulating gold and silver
- Industrial Revolution: Period of mechanization and factory-based production (1780-1850)
- Imperialism: Practice of establishing control over foreign territories
- Fascism: Totalitarian ideology emphasizing extreme nationalism and state control
- Cold War: Ideological confrontation between capitalist and socialist blocs
- Finance Capitalism: Economic system dominated by financial institutions
Important Dates to Remember
- 1415: Portuguese capture of Ceuta
- 1434: Portuguese cross Cape Bojador
- 1488: Bartolomeu Dias reaches Cape of Good Hope
- 1492: Christopher Columbus reaches Bahamas
- 1498: Vasco da Gama reaches India
- 1780-1850: Industrial Revolution period
- 1914-1918: World War I
- 1920: Formation of League of Nations
- 1939-1945: World War II
- 1945: Formation of United Nations
- 1991: End of Cold War
Study Tips
- Create Timeline: Make a chronological timeline of major events from 15th to 20th century
- Map Work: Practice identifying locations mentioned in geographical expeditions
- Cause and Effect: Understand the relationship between economic changes and political events
- Compare and Contrast: Practice comparing different economic systems and colonial policies
- Current Relevance: Connect historical concepts to modern economic and political situations