The Columbian Exchange
- Mercantilism, an economic theory that rejected free trade and promoted government regulation of the economy for the purpose of enhancing state power, defined the economic policy of European colonizing countries.
- Christopher Columbus introduced horses, sugar plants, and disease to the New World, while facilitating the introduction of New World commodities like sugar, tobacco, chocolate, and potatoes to the Old World.
- The process by which commodities, people, and diseases crossed the Atlantic is known as the Columbian Exchange.
Commerce in the New World
- Colonies rich in raw materials
- Cheap labor
- Colonial loyalty to the home government
- Control of the shipping trade