Commercial Revolution

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Commercial Revolution

  1. 1. Commercial Revolution (c. 1500-1700)
  2. 2. Essential Questions <ul><li>What are the political, social, economic, and intellectual foundations of modern Europe? How do those forces interact? </li></ul><ul><li>How are nation-states formed and developed? </li></ul>
  3. 3. Causes <ul><li>Hanseatic League </li></ul><ul><li>Population Growth </li></ul><ul><li>“ Price Revolution” </li></ul><ul><li>States and emerging empires </li></ul><ul><li>Rise of capitalism </li></ul>
  4. 4. Features <ul><li>Banking </li></ul><ul><ul><li>Fuggers in Germany and Medicis in Italy </li></ul></ul><ul><ul><li>Antwerp commercial center in 16thc </li></ul></ul><ul><ul><li>Amsterdam commercial center in 17th after successful Dutch Revolt against spain </li></ul></ul><ul><li>Chartered companies </li></ul><ul><ul><li>British East India Co. </li></ul></ul><ul><ul><li>Dutch East India Co. </li></ul></ul><ul><li>Joint-Stock Companies </li></ul><ul><li>Stock Markets Emerged </li></ul>
  5. 5. Features <ul><li>First Enclosure movement in England </li></ul><ul><li>“ Putting-out” Industry emerged </li></ul><ul><li>New industries </li></ul><ul><li>New Consumer goods </li></ul><ul><li>Mercantilism developed in the 17th c. </li></ul><ul><ul><li>“ Bullionism” </li></ul></ul>
  6. 6. Significance <ul><li>Slow transition from a Euro society from rural to more developed with emergence of towns </li></ul><ul><li>Powerful nation states </li></ul><ul><li>Brought a about the age of exploration as competing nations sought to create new empires overseas </li></ul><ul><li>“ Price Revolution” </li></ul><ul><ul><li>Prices during 16th c rose gradually </li></ul></ul><ul><ul><li>Population increase = increase in demand </li></ul></ul><ul><ul><li>Inflation stimulated production </li></ul></ul><ul><li>The bourgeoisie grew in political and economic significance </li></ul><ul><li>Increased standard of living </li></ul>
  7. 7. Essential Questions <ul><li>What are the political, social, economic, and intellectual foundations of modern Europe? How do those forces interact? </li></ul><ul><li>How are nation-states formed and developed? </li></ul>

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