IGNOU HISTORY NOTES : India History From Mid 18th to Mid 19th Century - Mercantile to Industrial Capitalism in Europe

IGNOU HISTORY Study Notes for IAS, UPSC Exams

History India From Mid 18th to Mid 19th Century

Mercantile to Industrial Capitalism in Europe

Structure

6.0 Objectives
6.1 Introduction
6.2 Feudal Errope
6.3 New Ideas : Renaissance and Reformation
64 Geographical Exploration and Overseas Colonisation
6.5 Sixteenth Century England : Wheels of Change
6.6 Manufacturing in the Age of Merchant Capital
6.7 Methods and Organi.wtion of Trade
6.8 Mercantilism
6.9 I'riw Rise and Crisis
6.10 England : On the Path of Industrialisation
6.1 1 The lildustrial Revolution
6.12 - The Maturation of Industrial Capitalism
6.13 ,.l.$t UsSumUp
6.14 Key Words Q
6.15 Answcrs to Check Your Progress Exercises

6.0 OBJECTIVES

In this IJnit we discuss the main trends in the economy and society of Europe from the
fifteenth to thc middle of the nineteenth century. After reading this Unit you will be able
to explain :

the lihctors responsible for the weakening of feudalism in Europe.
the gtxrgraphical discoveries. overseas colonisation and their impact on the economy of Europe.
thc mercantile era : growth in markets, money economy. accumulation of capital and thc influence of mercantilist ideas.
thc changes in the techniques of agriculture, industry and trade with the dcvelopmcnt of science and technology,
the comparative development of European countries. the rise of Britain and its emergence as the dominant colonial power.
the industrial revolution in Britain : factors responsible. its nature and impact. and
the rise of capitalism and thc role of colonies in it.

6.1 INTRODUCTION

In Block 1 you havc read about the political developments in I.pdia in IIIC rstk
century. One of the significiint litndmarks of this period was the cornpcIII1,ttl ;Imong
various European colon~al powcrs to establish their hegemony over tl~c II~,II.III
subcontinent. Why did the various Luropean countries jump into I'icicc. t.ttt~l,,t.t~tion
to establish a colonial empire'! In th~s Unit we have tried to find arr ;III\\~,.I III ~lris
question in the context of the socioeconorrric devel~pments of Europc IIIII,I 111,. 15th
to the middle of the 19th century.