By: Alli Pollack
Columbus is a Hero:
Economic Impact on the World Economy
- Nunn, Nathan, and Nancy Qian. “The Columbian exchange: A history of disease, food, and ideas.” The Journal of Economic Perspectives2 (2010): 163-188.
Excerpt:
“First, it introduced previously unknown species to the Old World. Many of these species—like potatoes, sweet potatoes, maize, and cassava (also known as manioc)—resulted in caloric and nutritional improvements over previously existing staples. Second, the discovery of the Americas provided the Old World with vast quantities of relatively unpopulated land well suited for the cultivation of certain crops that were in high demand in Old World markets. “
Abstract:
After Columbus accidentally introduced the world to the untapped resources and overall opportunity of the Americas and western hemisphere in general, the overall world economy grew and become stronger. Columbus’s heroic journey to find new resources opened the door to strengthening international relationships and broadening trade to a global level.
- Findlay, Ronalad, and Kevin O’Rourke. “Mr. Columbus’s Economic Bombshell.” BBC Historyd.: 41-43. BBC History. May 2006. Web. 04 Apr. 2017. <http://www.tcd.ie/Economics/staff/orourkek/BBC%20History.pdf>.
Excerpt:
From 1500 to 1800, there was a steadily increasing silver flow from Latin America to not only Europe, where it led to widespread price inflation, but to Asia as well, either directly (via the Philippines) or indirectly (via Europe, which used the silver to pay for imports of Chinese goods such as silk and ceramics, Indian cotton textiles and Indonesian spices).
Abstract:
The journey made by Columbus jump started the entire world economy and further encouraged other governments and economies to become interested in the resources available in America. This was the start of today’s current large scale globalization.
- Beding, Silvio A., ed. The Christopher Columbus Encyclopedia. Springer, 2016.
Excerpt:
“Both European trade and population expanded considerably in the countries after Columbus sailed, and the governments rose that could to the resources of their people and use them to pursue national goals. Among t hose goals were new sources of food and trade goods to enhance their countries’ wealth.”
Abstract:
Although Columbus’s encounter with the natives ended in violence and the destruction of almost all of the native people, it too resulted in a growing interest in America, thus in the long time increasing the population as more and more people settled there.