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Bernstein on the History of Trade Timeline

By NicholleKrause
  • 4000 BCE

    Ancient period - dawn of civilization most strategic materials - copper/tin

  • 3100 BCE

    Bronze age dawned - Mesopotamia needed tin - still uncertain how they got it

  • 800

    Medieval period - sugar industry well established, expensive due to hard to manufacture

  • 1492

    New world - easy access to resources/factors of production - sugar can be produced at lower cost

  • 1494

    King Manuel of Portugal - Ultimatum to Jews: leave or convert

  • 1498

    1498 Vasco Da Game took over ship routes that were destroyed by Black Death

    Dutch more capital/markets took over Portuguese once they refocused
  • 1504

    King Manuel began slaughtering Jews, fled to Brazil - became worlds largest sugar producer

  • 1512

    António de Abreu, westerners get to spice lands

  • early 17th century - Holland & Portugal war to control spice trade - Dutch did not succeed in Western hemisphere

  • Portuguese population around + 1 million, Spanish doing well

  • wealthy/elite were the only ones who could afford long-distance goods

  • Portugal regain independence from Spain - Dutch out of Brazil

  • Mid 17th century - 23 Jews migrate to NY

  • Late 17th Century - Wool weavers riot after import of cotton

  • England changed exports, became rich

  • Evolving middle class - technology advancements led to goods traveling the world cheaper

  • Henry Martyn's "Considerations on the East India Trade" published

    Challenges and tears down mercantilist theory and ideologies of his time

  • Late into French wars, started importing grain

  • Britain Allowed East India Company to sell to colonies - First anit-globalization/Protectionist driven riots

  • Draconian Corn Laws passed

  • Draconian Corn Laws passed

  • Per Buchanan - the 19th century was when America had a protectionist ideology - believes we should return to this era of thought

  • 1830's - Start of Cobden addressing corn laws - free trade, cared of moral issues

  • Corn Law Reform

  • Taylor and Cobden - Penny Post Implementation

  • Bad Winter and Irish Potato Blight

  • Robert Peel - Corn Laws repealed - betrayed party interests (ruined his career) but saved his country

  • Buchanan believes before the 20th century - trade was important (with the history from this podcast, oh how wrong he is)

  • Arthur Schlesinger, Sr. First to break story of riots from 1773