Impact of the Geographical Discoveries
The geographical discoveries had a profound impact on the economic,
political and social conditions in most parts of the world. The most important
among them are:
There was a
tremendous improvement in the trade and industry in Europe. It began to reach
beyond the Oceans.
The expansion of
trade provided a stimulus to the development of ship-building industry. Larger
quantities of goods had to be carried in bigger ships.
As the trade developed
in large scale, joint-stock companies and banking enterprises emerged. European
companies established their trade centres in Asia, Africa and Latin America.
companies slowly captured political power and established their rule in their respective
regions. This led to Colonialism and Imperialism.
grown in Europe along with the policy of Mercantilism. As a result, the
colonies were exploited.
The mad rush for
new colonies led to mutual rivalry among the European powers and ultimately
resulted in wars.
The system of
slavery was followed. The European planters in America imported Negro slaves
from Africa to work in their plantations.
discoveries solved the problem of over population in Europe and many Europeans
began to settle in the American continents.
The culture of
Europe had spread to Asia, Africa and other parts of the world very rapidly.