Economic gain

Definition

Economic gain refers to the increase in wealth or financial benefit that a country, group, or individual receives from trade, exploration, or resource extraction. In the context of exploration, especially during the Dutch and British ventures into New Zealand, economic gain was a primary motivator driving these expeditions as they sought new trade routes, valuable resources, and opportunities for settlement.

5 Must Know Facts For Your Next Test

1. The Dutch were among the first Europeans to explore New Zealand in the 17th century, primarily motivated by the search for valuable resources like timber and seals.
2. British exploration of New Zealand in the late 18th century intensified with Captain Cook's voyages, which aimed at both scientific discovery and securing trade routes.
3. Economic gain led to the establishment of trading posts and settlements, significantly impacting indigenous populations and their resources.
4. The desire for economic gain through land acquisition and resource extraction contributed to conflicts between European settlers and Māori tribes.
5. Economic interests shaped treaties such as the Treaty of Waitangi, which was intended to protect Māori land rights while facilitating British economic activities.

Review Questions

• How did economic gain influence the decisions made by Dutch explorers in their voyages to New Zealand?
  • Dutch explorers were primarily driven by economic gain as they sought new trade opportunities and valuable resources in New Zealand. The discovery of abundant natural resources like timber and seal populations made the region attractive for commercial exploitation. This pursuit of profit led to an increased interest in exploration despite limited long-term settlements compared to later British efforts.
• In what ways did British exploration of New Zealand reflect the broader goals of mercantilism during the late 18th century?
  • British exploration in New Zealand was closely aligned with mercantilist goals, as it aimed to expand trade networks and secure new sources of wealth. The focus on establishing colonies allowed Britain to extract resources and establish profitable trade routes. This not only benefited British economy but also facilitated further colonization efforts that aimed to integrate New Zealand's economy into the global market.
• Evaluate the impact of economic gain on Māori communities during Dutch and British exploration of New Zealand, considering both positive and negative consequences.
  • The pursuit of economic gain by European explorers had profound effects on Māori communities, both beneficial and detrimental. On one hand, some Māori engaged in trade with Europeans, gaining access to new goods and technology. On the other hand, this interaction often led to land dispossession and cultural disruption as European settlers prioritized resource extraction over Māori rights. The imbalance created by the focus on economic profit laid the groundwork for ongoing conflicts and challenges in achieving equitable relationships between Māori and European settlers.

Related terms

Mercantilism: An economic theory and practice that dominated European trade from the 16th to the 18th century, focusing on increasing a nation's wealth through trade regulation and the accumulation of precious metals.

Colonialism: The practice of acquiring control over another country, occupying it with settlers, and exploiting its resources for economic gain.

Trade Routes: Established paths or networks used for the exchange of goods and services between different regions, often crucial for economic growth and expansion during exploration.