Economic And Social Aspects Of The Commercial Revolution In The Middle Ages

The topic I have chosen to discuss related to the last 400 years in Western Civilization is the industrial revolution in Britain. The industrial revolution was what created the modern capitalist system. Britain was the first to lead the way in this huge transformation. Technology changed, businesses, manufactured goods, and wage laborers skyrocketed. There was not only an economic transformation, but also a social transformation. The industrial revolution is such an interesting subject to further explore, because it truly made a difference in Britain in the late 1700s. The industrial revolution brought an increased quantity and variety of manufactured goods and even improved the standard of living for some individuals, however, it resulted in grim employment and living conditions that were for the poor and working classes. The industrial revolution had a bright and dark side to it. It was dark due to all the horrible working conditions, crowded cities, unsanitary facilities, diseases, and unsafe work environment, but the bright side is that it was a period of enormous social progress.

The industrial revolution during the 19th Century led to the rapid expanse of cotton production in America. Several new inventions began to be used which could more efficiently use cotton and other similar materials to aid in the production of textiles. During that time, the textile industry was big and the demand for cotton continued to grow however the price of cotton never increased to match the demand. Slaves were taken advantage of and because their labor was so cheap it was beneficial to slave owners to collect cotton using slave labor and trade the cotton for a profit. Great Britain was the worlds most powerful country and a large part of that countries industrial life was cotton textiles. America became Britain’s biggest trade partner for cotton and the increase in trade allowed America to build on its own and gain a bigger variety of goods through trade. The cotton industry was one of the biggest influences of America’s growth in the 19th Century and slave labor was used to ensure its expansion could continue throughout the years.

Prior to unfolding of the events in the 18th century the interlinkages of increasingly global world, stirred agrarian and rural society's. In particular, the families had begun to produce surplus and buying new commodities, which were hitherto, considered luxuries. This era of industrious revolution laid the foundation for the industrial revolution. The trade in this time to Europe was mainly spices from India, silk and porcelain from China and inspite of silver flowing in from Americas kept the balance in favour of the East. The capital and labour requirements were not intensive and the mercantile activities were primarily housed in the guilds. This essay attempts to understand how the industrial revolution impacted the commerce

| * disease caused for the decline in the middle ages * guilds develop to regulate laws of a particular occupation * growth of cities increased because of the need for more labor involved products

14. The guild system was created for the purpose of controlling wages and prices, monopolize trade, set quality standards, and limit the number of people in business. The master craftsmen were in charge of the maintaining the system and promoting/demoting the townsmen. The system would work by promoting people as they again experience, the masters would determine when an individual is ready to be promoted. This system would assure that everyone has a position in trade which they deserve, new people would have easier jobs while experiences men would have the difficult

Being a guild member allowed much more freedom to take risks - which was a good way to potentially earn more money - as the guild would support them if something went wrong, as well as physical safety. The protection that guilds offered helped trade grow even further as member felt safer and were willing to trade more. The expansion of trade allowed guilds to form in the first place, indirectly causing urbanization through guilds, as the guilds led to a further growth of

The Industrial Revolution started in the early 19th century. It brought about a wide array of changes, both social and political. Before the invention of machine and the factory system people had to make everything by hand which meant people would make anything they could by hand and buy things they couldn’t make from people who specialized in making the particular thing they needed. The groups of people who specialized in making something were called Guilds and they would take on younger kids and teach them the craft. Working in a guild required skill and were often smaller exclusive groups of people which meant that most people lived out in the country as farmers. But then factories filled with machines started up and suddenly there was a

Leaders of merchant guilds cooperated close with the leaders of merchant guilds in hopes of seeking commercial opportunities

The market revolution of the early 19th century brought about commercialization and industrialization. At the time before the surge of industrialization, there were artisans, who specially hand crafted goods. They took time and put love and hard work into everything they made. This was the case until the factories started booming and workers were needed to run these factories. This brought about a dilemma between the artisan and factory worker.

This influx of money and goods led to the change of the economic systems in Europe. This change caused the Commercial Revolution, or the establishment of many types of new businesses. The Commercial Revolution was caused not only from the income of the trading of goods, but also the large amounts of gold an silver that were found and shipped back to

Capitalism started up as a system of investing and sharing money in order to increase the value of resources in the future. Capitalism was just an economic system, but then soon turned into a complex system of ethical practices. Harari defines capitalism as, “a set of teachings about how people should behave, educate their children and even think” (Harari 314). This economic system evolved along with the people that were endorsing it. Capitalism enables the rich to get richer, while the poor continue to get poorer. There are many benefits to capitalism, but there are downfalls as well, and these downfalls tend to be masked because of the rapid speed capitalists grow at. Harari first presents a definition for capitalism, and soon goes into great detail on why capitalism, while fast paced and unforgiving, is able to stand unwavered while other productions fail.

The Industrial Revolution in Europe changed Europe to this day. This began in the United Kingdom in the 1700s and expanded to Western Europe in the 1800s. During the Industrial Revolution, this provided new technology, a surplus of food, trading and different ways of producing goods for countries. The women and children in Europe had to work hard and work in the mills. They did this to give enough money for their family to live on. Politics also changed during the Industrial Revolution. Thus, the Industrial Revolution affected many people and to discover new technology and ways of thriving life.

Before the industrial revolution, Europe was mostly dominated by farmers but as the industrial revolution progressed this changed dramatically. Industrial revolution had a significant impact in the process by making new demands that shaped the way of life through increased competition and technological innovation. Generally, it was a historical period that sparked in a stroke a number numerous changes in the economic, social and political dimensions. It is considered as a period that made the biggest impact on 19th century Europe considering that it was the period that the countries realized significant progress that shaped their economies in great details with nationalism and imperialism as well being direct impacts of the revolution.

The economy mostly seen in the early middle ages was feudalism, Europe’s form of government

So Serfs gave rise to burghers who formed the beginnings of the new bourgeois class. The beginnings of European trade with America and the Far East contributed to the "rapid development" of "the revolutionary element in the tottering feudal society"(56). New markets, which became unable to be supported by the feudal systems' means of production, caused that system to be replaced by the "manufacturing system…. The guild-masters were pushed aside by the manufacturing middle class; division of labor between the different corporate guilds vanished in the face of division of labor in a single workshop." (56)