Goods from the Global Economy Spices from Southeast Asia were a driving force behind the new global economy, and among the most treasured European luxury goods. They were used not only for cooking but also as medicines and health tonics. This fresco (below right) shows a fifteenth-century Italian pharmacist measuring out spices for a customer. After the discovery of the Americas, a wave of new items entered European markets, silver foremost among them. The incredibly rich silver mines at Potosí (modern-day Bolivia) were the source of this eight-reale coin (right) struck at the mine during the reign of Charles II. Such coins were the original “pieces of eight” prized by pirates and adventurers. Soon Asian and American goods were mixed together by enterprising tradesmen. This mid-seventeenth-century Chinese teapot (below left) was made of porcelain with the traditional Chinese design prized in the West, but with a silver handle added to suit European tastes.

coin: Hoberman Collection/SuperStock