Immanuel Wallerstein

The Modern World-System I

Notify me when the book’s added
To read this book, upload an EPUB or FB2 file to Bookmate. How do I upload a book?
  • Дарьяhas quoted6 years ago
    In the case of Portugal, there seemed to be advantage in the “discovery business” for many groups—for the state, for the nobility, for the commercial bourgeoisie (indigenous and foreign), even for the semiproletariat of the towns.
  • Дарьяhas quoted6 years ago
    In addition, Portugal already had much experience with long-distance trade
  • Дарьяhas quoted6 years ago
    One obvious answer is found on any map. Portugal is located on the Atlantic, right next to Africa. In terms of the colonization of Atlantic islands and the exploration of the western coast of Africa, it was obviously closest. Furthermore, the oceanic currents are such that it was easiest, especially given the technology of the time, to set forth from Portuguese ports (as well as those of southwest Spain).123
  • Дарьяhas quoted6 years ago
    Nonetheless, the supply was not keeping pace with the demand, and the search for gold by the maritime route (thus, for Sudanic gold, circumventing North African intermediaries) was unquestionably one consideration for the early Portuguese navigators
  • Дарьяhas quoted6 years ago
    There are three main explanations of the crisis. One is that it was the product essentially of cyclical economic trends. The optimal point of expansion given the technology having been reached, there followed a contraction. The second is that it was the product essentially of a secular trend. After a thousand years of surplus appropriation under the feudal mode, a point of diminishing returns had been reached. While productivity remained stable (or even possibly declined as a result of soil exhaustion) because of the absence of structured motivation for technological advance, the burden to be borne by the producers of the surplus had been constantly expanding because of the growing size and level of expenditure of the ruling classes. There was no more to be squeezed out. The third ex
  • Дарьяhas quoted6 years ago
    Thus started a downward cycle: The fiscal burden led to a reduction in consumption which led to a reduction in production and money circulation which increased further the liquidity difficulties which led to royal borrowing and eventually the insolvency of the limited royal treasuries, which in turn created a credit crisis, leading to hoarding of bullion, which in turn upset the pattern of international trade.
fb2epub
Drag & drop your files (not more than 5 at once)