What is it and Why?
A bunch of things that are important!
What is Mercantilism?/What is Capitalism?
Capitalism is an economic practice for buying and selling products, such as Mercantilism. People invest to earn a profit, or spend money to make money. Capitalism is a system of freedom and based on individual rights. Anyone can start a business.
Mercantilism compared to Capitalism
- They both had the same idea of how to profit. Spend money to earn money. People would make goods and sell them to places in hope to get something more in return.
- The exchange value was the same. In pre-capitalism places, people would sell their products for something of equal use. In capitalism, goods are sold for money, just like in mercantilism.
- In both mercantilism and capitalism, the amount of money spent is controlled by someone higher then the product maker. A baker can only spend so much on supplies and then have to pay a certain price for it, such as in mercantilism.
- Surplus of wealth and goods
- Encourages the complete development of natural resources
- Encourages trade
Cons of Mercantilism
- Mother nation is always first
- Risk of materials running out
- High levels of resentment. Rich get richer.
Pros of Capitalism
- System of freedom
- Based on individual rights
- Anyone can start a business
Cons of Capitalism
- Creates social division
- Social benefit ignored
- Wealth inequality. Rich are born into privilege or inherit wealth.
What is the Colombian Exchange?/What is the Internet?
The internet is one of the greatest recent inventions. It helps for easier communication, helps news spread faster, and help share knowledge. Though not all good things come from this. The internet doesn't have much privacy and therefor, personal information can get into the wrong hands.
Colombian Exchange compared to the Internet
- Increased food production
- Cheaper to grow food
- Live stalk is given
- US is created
Cons of Colombian Exchange
- Diseases spread faster
- No immunities
- Thousands of deaths
Pros of the Internet
- Easier communication
- News and knowledge spread faster and easier
- Help with education
- Help with maintaining personal relationships
Cons of the Internet
- Lack of privacy
- No security
- Easy way to access personal information