The exploration era is important in economic and financial history because it was the transition between 2 eras. Many aristocrats lost a fortune in those schemes. In the case of Scotland, it led to the Act of Union of 1707. read more
Best Answer: I believe it's more the other way around, exploration grew out of commercial ventures, such as the Portuguese and Dutch attempt to reroute the spice trade through their sea lanes around Africa and into the Indies, the British desire to obtain luxury goods from south and east Asia, the cotton and rice trades of the southern British colonies, the sugar trade of the West Indies, the Spanish search for precious metals, etc. read more
Capitalism's characteristic emphasis on freedom of trade and market expansion has encouraged social mobility, global exploration and intellectual curiosity. Wherever and whenever it has appeared across the world's continents capitalism has undermined monopolies, economic protectionism and restrictive practices. read more