European Merchants

Definition

European merchants were business people from various European countries who engaged in trade during the 15th to 19th centuries, including participating in the Transatlantic Slave Trade.

Analogy

Think of them as players in a high-stakes poker game where the chips are human lives. They traded goods for people and then sold those people for profit.

Related terms

Mercantilism: An economic theory practiced by European powers during this period that promoted governmental regulation of a nation's economy for augmenting state power at the expense of rival national powers.

Capitalism: An economic system characterized by private or corporate ownership of capital goods; investments determined by private decision rather than state control. Many argue that early forms of capitalism were fueled by profits from slave trade.

Imperialism: A policy or ideology where a nation extends its power by acquisition of territories. It may also include exploitation of these territories which is done through direct rule or indirect methods.