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Oct 12, 1492
Columbus Discovers the New World
In 1492, Christopher Columbus lands on an island in the Bahamas. Thinking he has reached India, Columbus considers the natives to be Indians. Columbus intends to convert the people to Christianity, exploit the island's natural resources, and earn glory for himself, the Spanish crown, and Spain. Columbus's discovery was the first time a commissioned, well-kept-up-with discovery of the New World occurs. It opened the door, so to speak, for the exploration and colonization of the New World. -
Jan 1, 1493
La Isabela Founded on Hispaniola
The founding of La Isabela in 1493 in north Hispaniola marked the first time in the "modern" world a colony had been established from Europe in North America. This turned into being a huge turning point in the New World. It showed that migration could successfully take place across the Atlantic. Within fifty years of La Isabela, thousands were migrating to the New World for new opportunities. However, without the precedent set by La Isabela, this may not have happened so quickly. -
The Rise of Mercantilism
An idea that found roots in famous figures, such as the French Finance Minister Colbert to Adam Smith in The Wealth of Nations, mercantilism earned a lot of attention by national governments and royalty. The rise of mercantilism is what leads to the race to colonize the New World. Without mercantilism, nations wouldn't have had interest to import raw materials to boost their GDP. The rise of mercantilism is what helps develop the first Trans-Atlantic world market and connects the worlds. -
The Industrial Revolution
The Industrial Revolution marked a huge turning point in connecting the world together. The advent of the steam engine in 1712 made it possible to connect nations/economies through railroads and steamships. The steam engine made manufacturing, shipping, and life easier for the developed world. Additionally, communication among the nations was made easier through Morse code, the telegraph, and the telephone. These were key steps toward a global economy. -
Rise of Joint-stock Companies and Stock Exchanges
In 1773, London opened up their first stock exchange. The NYSE was created 19 years later. This led to great investment opportunities for businesses and bankers. In turn, the investment opportunities created by the advent of joint-stock companies helped establish more multinational companies. This, as a result, led to companies and economies stretching across the ocean and across the world from the private sector (previous multinational corps. were state-controlled). The global market was new. -
The American Revolution and Establishment of America
When shots first fired on April 19, 1775, the world would never be the same. For the first time, the colonies of North America were united in an effort to establish their own form of sovereignty. After years of bloody fighting, the Revolution finally ended in 1783. The aftermath left a new country to be established on a huge landmass with untapped potential. This event led to the creation of the one of the world's largest economy and better connected the New World to the Old World. -
Irish Potato Famine
The Irish Potato Famine caused a great disturbance in the global economy. More importantly, the Famine caused changes in the trading throughout Europe and people migration patterns across the Atlantic. First, the Famine forced several European nations to offer limited forms of help to Irish and it promoted, at least to a minor extent, multinational cooperation. Furthermore, many Irish people migrated to America, thereby bringing some more European culture into America. -
1851 London World's Fair
The first World's Fair, which took place in London, represented a new beginning for the culmination of customs and cultures throughout the world. It marked a key time period where countries would share their efforts of advancement with each other and work together (more often than not) to improve life.