A trading empire disciplined by profitability

The map of Portuguese possessions reflects stopping places and markets rather than a desire to occupy every coastline. Australia offered too little population, supply, or saleable demand to justify the commitment described here. Portugal cut activities that stopped making economic sense. If another authority could bear the cost of controlling territory while Portuguese merchants retained access, that arrangement served the empire's purpose. The result was a ruthlessly focused commercial system whose state administration could be more efficient than many private businesses. Efficiency depended on timing, place, and motivation rather than whether the organization was a government or a business.