Pub. date: 2012 | Online Pub. Date: May 31, 2012 | DOI: 10.4135/9781452218458 | Print ISBN: 9781412981767 | Online ISBN: 9781452218458| Publisher:SAGE Publications, Inc.About this encyclopedia
European Economic Impact: 1250 to 1920: Middle East
The impact of European economy on the Middle East is an intensely debated topic in Middle Eastern studies because the rise of Western capitalism is believed to be one of the major causes of the so-called “decline of the Ottoman Empire.” However, European economic impact was unequally felt in different periods. For the sake of convenience, three phases of development will be traced here: an initial one, from the second half of the 16th to the end of the 17th century, when the economic hearth of the world moved from the Middle East to the Atlantic and Indian Oceans; a second phase in the 18th century, when Middle Eastern economy increased its level of integration to European markets; and finally, the 19th century, when the effects of the Industrial Revolution on this area became the most visible and the most devastating, leading to the eventual demise of the Ottoman state. ...