Globally, what happened to economic systems after 1450? How did this change affect workers?

Question

Indentured servitude was replaced by capitalism as the world’s most common economic system. This affected workers because forced labor systems were, on the whole, phased out. They were replaced by mercantilism, where humans worked alongside machines.
Capitalism was replaced by mercantilism as the world’s most common economic system. This affected workers because forced labor systems were, on the whole, phased out. They were replaced by industrial systems of labor, where humans worked alongside machines.
Mercantilism was replaced by capitalism as the world’s most common economic system. This affected workers because forced labor systems were, on the whole, phased out. They were replaced by industrial systems of labor, where humans worked alongside machines.
Highland Clearances were replaced by mercantilism as the world’s most common economic system. This affected workers because industrial labor systems were, on the whole, phased out. They were replaced by forced systems of labor, where humans worked alongside machines.

Answer 1

The correct statement regarding changes to economic systems globally after 1450 is:

Mercantilism was replaced by capitalism as the world’s most common economic system. This affected workers because forced labor systems were, on the whole, phased out. They were replaced by industrial systems of labor, where humans worked alongside machines.

In this context, after 1450, particularly during the Age of Enlightenment and into the Industrial Revolution, mercantilism emphasized state control over the economy, with a focus on trade surplus and accumulating wealth through colonial exploitation. Over time, capitalism began to emerge as the dominant system, characterized by private ownership, free markets, and the role of capital in driving economies.

This transition significantly affected workers. Forced labor systems, such as indentured servitude and slavery, were increasingly challenged and began to be phased out, especially in places like Europe and parts of the Americas. Instead, the rise of industrial capitalism resulted in wage labor systems where workers labored in factories, often under harsh conditions, but with the potential for payment in exchange for their labor, allowing for more economic mobility, albeit with its own set of challenges.

Thus, this period marked a significant shift in economic structures, labor relations, and the experiences of workers globally.