2. in which the productions of land,
labor, and capital were privately
owned, available for sale, and
devoted to harvesting or making
goods for sale to reach a profit.
England never reached the
mature form of capitalism, but
passed into that early stage
known as mercantile capitalism.
During the 16th and 17th
centuries, the English and Dutch
merchant classes were forming
combinations of land, labor, and
capital meant to gather profit for
further investments and
production.
3. During the Age of Discovery in the 15th
and 16th centuries, Spain and Portugal
pioneered European exploration of the
globe and in the process established
large overseas empires.
Envious of the great wealth these
empires bestowed, England, France and
the Netherlands began to establish
colonies and trade networks of their
own in the Americas and Asia.
Depriving it of its most populous
colonies. Despite this setback, British
attention soon turned towards Africa,
Asia and the Pacific.
Following the defeat of Napoleonic
France in 1815,
Britain enjoyed a century of effectively
unchallenged dominance, and
expanded its imperial holdings across
the globe. Increasing degrees of
autonomy were granted some of which
were reclassified as dominions.
