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First Journal Entry: January 25th

The first innovative traders were the Phoenicians. They were very well

educated shipbuilders, sailors, and merchants. Phoenicia was on the

Mediterranean, giving them large influence. This influence is worth nothing if

they cannot communicate, so they had to get it on paper. They spread their

language through the development of their alphabet. These Pictograms, or

the letters they used, were modeled after the esteemed Greek alphabet, but

still the first to really put it to use.

The Phoenician cities on the coast of the Mediterranean Sea included

Byblos, Tyre, and Sidon. These city states were established for trade and

aided greatly in the cultural diffusion of their technology. They used the

Mediterranean Sea as a large platform for trade and diffusion of ideas. In

many ways, this set them far ahead of another country. It was rumored that

the Phoenicians traded with the British and made the journey around Africa

long before Vasco Da Gama, but these were only rumors.

Second Journal Entry: January 25th

Towards the end of the 12th century, in the wastes of the Mongolian

steppes to the north of China, The course of history would soon change. The
Nomadic tribesmen who had produced such fearsome warriors, such as the

Huns, were coming together under a great Mongolian leader. His name was

Genghis Khan.

Genghis Khan and his powerful army of Mongol horseman spilled out of

the Eastern steppe and overran the surrounding territory in all directions.

The Mongols first attacked Beijing, then turned west and attacked the Silk

Road city of Merv. They massacred its 700,000 inhabitants. Soon their

power spread from China and into Afghanistan, much of the Middle East, and

Europe, as far as Poland.

Communication was vital. For the first and last time, almost the entire

length of the Silk Road was ruled by one power, under what has become

known as Pax Mongolica. The Mongols even establish what are known as the

Golden Horde cities along the European end of its path, which was filled

with craftsman. With much of Asia now under Mongol rule and European

trade expanding, the most famous of all European travels to the east occurs,

Marco Polos journey to China from Venice.


Third Journal Entry: January 25th

The Trans-Saharan trade network has aided the poorer countries in

Africa. These third world areas were used to bartering and primal ideation,

but this trade system has proved them full of resources and man-power. The

trade kick started the economies of many very poor countries, and the man-

power was traded, abused and overworked on many occasions.

They traded very specialized goods, fit to the climate and the economy

of the area it was made in. Soon, the countries see this possibility, and begin
to take advantage of it, and take over. This spread cultures and traditions

throughout Africa.

Fourth Journal Entry: January 25th

The Swahili Coast of Africa was the home to many diffused products,

cultures and traditions close to the Indian Ocean. These ideas were moved

through the Indian Ocean trade network. This network allowed for easy trade

and use of new inventions for sailing. The compass aided sailors in

navigation, and the Lateen Sail helped them be more precise with directions.

These diffused ideas brought together beliefs, inventions, and ways of

life. The evidence of the interactions between these countries still turn up

today.
Fifth Journal Entry: January 25th

Europe's economy before trade and Gutenberg was based off of their

system of feudalism. This was the distribution of land by the king, for many

layers of protection. Europe only excelled economically through manoralism

at this time. This relied completely on agriculture and the three-field system.

Trade later caused agriculture to die down, and sped up the process of

urbanization. Everyone was drawn toward large cities. Johannes Gutenberg's

invention of the printing press allowed for the mass production of books,

paper, and communication, which also centered the population towards the

cities.

In the city, the people carried out the commercial revolution from the

13th century to the 18th century. The revolution created factories and more

work, which led to farming guilds.


Sixth Journal Entry: January 25th

The Columbian exchange was the widespread transfer of animals, plants,

culture, humans (slaves), technology, and ideas between the new and old

world in the 15th and 16th centuries. It was related closely to the European

colonization and trade after Christopher Columbus's 1492 expedition.

Similarly, and soon after this, was the Atlantic slave trade, the largest

deportation of slaves in history. This was a deciding factor in the 12th

century economy. The triangular trade system was the system of the

Columbian exchange through North Africa, South America and Europe. Slaves

in Africa would travel the middle passage. The compass charted direction but

the Lateen sail and the astrolabe helped travel advance.

Seventh Journal Entry: January 25th

Industrialization is simply the process by which an economy is transformed

from primarily agricultural, to one based on the manufacturing of goods.


Trade has made a huge impact on the industrial revolution. It all started with

a group of innovative farmers who had enclosures using crop rotation. Then

trade began and these farmers sold and traded different supplies they

needed. This was the breaking point. At first there was lots of laissez-faire

attitude and not much stress, however, trade increased stocks. Most of the

middle class took over the businesses and really took advantage of trade.

This is the beginning of urbanization. Countries would research the balance

of trade and see what they could sell to receive a valuable resource in return.

Then trade became more valuable, and peoples education about the topic

only grew. They knew about factors of production now, because that was

what their jobs were based on now.

Eighth Journal Entry: January 25th

Adam Smith and Karl Marx both wrote about capitalism, in which

industry is controlled largely by private companies meant to generate profits.

However, they came to very different conclusions about how the economy

and society function. Adam Smith is considered the farmer of modern

economics, and Carl Marx is considered one of the most important social and
economic thinkers of all time. Adam Smith argues that the most efficient

type of economy is one in which individual producers produce as much as

they want and charge the consumer any price they see fit. The idea is that

this System will work because each person will try to maximize his or her

own benefit. This is known as equilibrium. All economic forces are

supposedly totally balanced. On the other hand, Carl Marx objected

capitalism. He believed that capitalist owners of the machines and property

were a separate class from the workers.

Ninth Journal Entry: January 25th

The environment and economy interact in many ways. One is the

availability of resources, such as oil. OPEC, an organization that regulates the

amount of oil each country can trade. For most of the rest of these resources,

the World Trade organization regulates trade prices and quotas.

The other interaction between the environment and the economy is

the idea of Global Warming. This theory has caused the Kyoto Treaty, which

seeks to prevent any damage caused by Global Warming.


The United Nations is international, and seeks to better human rights

and reduce conflict worldwide. The globalization of trade and rights through

platforms like the internet, has created many efforts to connect and make life

better all around the world.

Tenth Journal Entry: January 25th

Globalization, as a part of the global economy, Helps to connect and

share ideas through the world.

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