Colonial Economy in Venezuela: 16th-18th Centuries
Production Processes in Colonial Venezuela
The Spanish government stimulated the exploitation of the territory in search of metals. In some cases, it imposed this duty on the conquistadors.
Economic Activities in the 16th Century
- Pearl fishing in Cubagua
- Expeditions in search of gold
- Exploitation of mines in the north of the country
Pearls were exhausted very quickly, and mines did not perform well. Therefore, people dedicated themselves to agriculture and animal husbandry. Thus, an agricultural economy became characteristic of the 18th-century colonial period.
Encomiendas
Encomiendas were the allocation of Indigenous people to settlers to work for free. The political goal was to keep those who were conquering the land for the King. From an economic...