Overview

Between the early 18th century and mid-1700s, European powers competed for global dominance through exploration, colonization, and economic expansion. The commercial and colonial rivalry among Britain, France, Spain, and the Dutch fueled wars, wealth accumulation, and demographic shifts that transformed the world economy and European society.

Key Themes and Developments

• Global Economy of the 18th Century:
  • Expansion of Atlantic trade linked Europe, Africa, and the Americas in a triangular system.
  • Slave labor drove plantation economies in the Americas and Caribbean.
  • Commodities like sugar, tobacco, and cotton generated immense profits.
• European Rivalries and Colonial Wars:
  • War of Spanish Succession (1701–1714) ended with the Treaty of Utrecht — rebalanced European power.
  • Seven Years’ War (1756–1763): Britain defeated France in India and North America — expanded British global empire.
  • Colonial holdings became strategic military and economic assets.
• Demographic Change:
  • Population growth due to better food supply (Columbian Exchange), declining death rates, and rural restructuring.
  • Enclosure movement in Britain transformed land use, leading to migration and labor for industrialization.
• Commercial Innovation:
  • Rise of joint-stock companies (e.g., British East India Company).
  • Expansion of banking, credit, and insurance services supported global trade.
  • Proto-industrialization: Rural households engaged in textile production before the factory system.

Quick Tip

Empire and economy were deeply intertwined. Focus on how colonial rivalries, slavery, and new financial systems shaped Europe's global dominance—and planted seeds for future conflicts and revolutions.