By Guy Routh (auth.)
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Extra info for Economics: An Alternative Text
4 PRIVATE ENTERPRISE The Spanish excursions, conquests and settlements in the New World, like those of the Portuguese in the East, were the results of royal enterprise. The Dutch and English intervention, by contrast, was a manifestation of private enterprise, even though Queen Elizabeth had a share in Drake's ventures. The pirates, of whom Hawkins and Drake were the best-known, were even called 'privateers' to distinguish them from official vessels. There was a curious mixture of national, religious and commercial alliances and rivalries as the sixteenth century wore on.
So the various elements of the changes reinforced one another: an agricultural revolution was dispossessing tenants and forcing them into the towns, there to be absorbed by the new factories. James Brindley designed canals; Metcalfe, Telford and Macadam bridges and roads. Stationary steam-engines were adapted into locomotives, with George Stephenson producing his 'Puffing Billy' in 1813. On 23 April 1837 two steamships arrived in New York, the Great Western from Bristol and the Sirius from Cork (ibid.
Tenney Frank, An Economic Survey of Ancient Rome, Paterson: Pageant Books, 1959, vol. I, pp. ) They had established a legal system that became a model for the rest of the world, while their five social classes were determined on the basis of wealth. They also organised their armies with enormous industry and efficiency. Conquests were supposed to be self-financing and to make a profit for the victors. At worst, cities would be looted and then destroyed, the inhabitants slaughtered or enslaved; at best, the defeated peoples would be subdued, captives sold back to their families, and tribute exacted.
Economics: An Alternative Text by Guy Routh (auth.)