To What Extent Was European Prosperity Dependent on Extra-European Contributions

question 4

Essay

To what extent was European prosperity dependent on extra-European contributions (either voluntary or forced)? Specify the Asian, African, and American roles in the world economy of the eighteenth century.

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Definitions:

Capital Intensive Techniques

Production processes that require a high investment in capital assets relative to labor.

Regressive Tax

A tax applied uniformly, taking a larger percentage of income from low-income earners than from high-income earners.

Proportional Tax

A taxation structure where the rate of tax stays the same, no matter the taxable amount.

Retail Sales Tax

A tax imposed on the retail price of goods and services paid by the consumer at the point of sale.