The document discusses the Columbian Exchange that started when Columbus brought European goods to America and American goods back to Europe, including plants, animals, technology, and diseases. This led to a commercial revolution in Europe with the growth of capitalism, new business methods like bookkeeping and banks, and joint stock companies. Nations practiced mercantilism where colonies existed to benefit the parent country through controlled trade. While some groups like merchants and middle class families prospered, inflation hurt wages and created poverty, and the wealth of nobles declined if tied to land.