Economic Changes In Early Modern Europe

During the time period between 600 and 1750, economic and social continuities and changes impacted Western Europe immensely. One particular economic alteration was the decline of feudal manoralism, prevalent in the early medieval era, as a result of the restoration of commerce following the Crusades. Another major change was the socioeconomic impact of the Age of Exploration circa 1500, which would establish European Hegemony. While economic transforma-tions occurred throughout Western Europe, the influence of the Roman Catholic Church was

Key Terms and People mercantilism Mercantilism is a theory that states that a country grows to be strong and important through money that comes from a favorable balance of trade, meaning that a country must export more goods than it imports. Mercantilism kept England powerful, as the colonies provided raw goods that were used to make ships for the navy. Also, the raw goods were used to make products that were sold to other countries. England also had no cause to buy certain products from other countries. It was able to export more products than it imported, keeping the county wealthy and powerful.

During those times, it was very hard to live, but it paved the way for modern day. 1450 brought about Renaissance, capitalism, the age of exploration, and the nation state. The Renaissance brought new attitudes toward the secular world and man's place in it. Capitalism brought new attitudes towards money and profit. The age of exploration brought new perspectives on Europe’s place in the world. The nation state brought ybw technology consisted of gunpowder, the printing press, better ships, and new navigation. There was also social change. Although it was tough for all classes, by 1500 peasants in Western Europe were free and had possession of their own land. The middle class was increasing through positions in the king's bureaucracy. Along with the change came new business techniques. The new business techniques consisted of joint stock companies, deposit banks and credit, and insurance companies. Joint stock companies granted people with low amounts of cash to participate in business enterprises such as merchant expeditions. The most important factor was that instead of people wasting their money, it was put into circulation with Europe's economy, which allowed it to grow more. Deposit banks and credit allowed bankers to invest more money in business ventures. Along with this, banking houses allowed branches to open, and it also extended a system of credit across Western Europe. Credit granted a businessman to use more

In the 1300's an Italian scholar named Petrarch came up with the name "Dark Age" to describe the time Europe was going through during the Middle Ages in 500AD-1500AD. Throughout the Middle Ages Europe was going through some rough times, but there were also moments of growth. For example the Black Death was a time of darkness but there were positive times like when universities were built. Although the dark ages were looked at as a negative occurrence, more events show a sign of growth.

During the Middle Ages social class much different than modern day. In a feudal society “nobles were granted the use of land that legally belonged to the king,” (Doc. 1). The nobles, in return, would give the lord loyalty and military services (Doc. 1). As peasants or serfs worked for nobles and knights they received protection and a portion of the harvest to feed their families (Doc. 1).

1.) Mercantilism controlled the trade of the colonies affecting their political and economical development. This system was in effect throughout The 1500's to the 1700's where the mother country controlled the industry and trade of other, weaker settlements. It restricted trade to anywhere except Europe. Both Europe and the colonies benefited in some ways.

One economic system used in Europe during the Middle ages was manorialism, and one system used during the Industrial Revolution was capitalism. Manorialism was used back when there were kings and peasants, and rendered the peasants dependant on the king's land. Capitalism is when the economy is controlled by private businesses, and not the state or

Mercantilism is the focus of draining other countries for its resources and exporting more than you import while gaining as much wealth that is possible by taking the assets from their colonies. So Great Britain believed the more money they had the more power they could achieve. Great Britain used the ideology of mercantilism on the colonies and they were used to export raw materials, such as wood, crops, and furs. Great Britain were able to make goods out of the raw materials that the colonies had exported, once Great Britain was done making the finished goods they would sell it back to the colonies and other countries. Many merchants from Europe gained charters which is a license to do business in the American colonies, this caused an enormous growth in population and merchants became very wealthy. The effect mercantilism had on the natives was not good, because many of the remaining natives became slaves. However the Indians kept dying from the diseases that Europeans brought over, which they were not immune to, and they also would escape because they knew the land very well, so the Europeans needed a new labor group to gather the raw materials and harvest crops for them. The work force the British were looking for had to be cheap, because the merchants wanted to make as much as money as possible, this led to the growth of the African slave

Mercantilism is an economic theory where a nation's strength comes from building up gold supplies and expanding its trade. Britain formed the American colonies so that they could increase their gold stores. They wanted raw supplies to make into products to sell and make money. They wanted America to pay taxes so that Britain could make money. America used the theory in that they thought they ought to, in order to be strong expand their trade beyond Britain. Countries like Belgium, and France wanted to also increase their trade, and expand it to trading with America. They also wanted to increase their gold stores by trading with America. Britain however did not want America to trade with France and Belgium and the Netherlands because they

The Medieval Era The Medieval era is so easily generalized into the three orders of those who fight, those who work, and those who pray, or even simply divided into the privileged and unprivileged. These distinctions are important, for the ability of the church and manor to influence a peasant's actions and to take a peasant's earnings was obviously a central component of a peasant's life. However, when peasants constituted such a sizable majority of the population (over 90 percent), it is also important to recognize the distinctions among them. Some peasants were free and some were serfs. Some peasants were well off and some were barely subsisting.

The Middle Ages was the period of European history from the 5th to the 15th century during the fall of the Western Roman empire. During the central Middle Ages, social, economic, and political structures were rediscovered and organized. Although Europe suffered disasters of famine and war in the 14th century the main social, economic, and political structures remained the same. Europe began to experience its revival between the 15th and 16th century. The Middle Ages ended with the Renaissance period. While Christians stressed the importance of individuality and human equality, secularism and individualism continued to rise and mark the Renaissance society. The middle classes and peasant populations both believed it was possible to change their standard of living. They no longer subjected to inflexible social position as they began to improve their social class and lifestyle through new ideas and hard work.

The rise of towns in the late middle ages had a direct effect on the feudal system in the middle ages. As agricultural practices improved production of crops was accomplished with less labor this allowed farmers to turn their attention to other endeavors which allowed them to make more money. The noble class was forced to sell the peasants their freedom so they could fund the crusades, pay loans and buy luxury items. The peasants not being tied to the farm, produced goods that could be sold at the local market place which gave many the funds to by their freedom. The market place where they sold these goods was located along trade routes, towns evolved from these market places. With the ability to buy their freedom most of the peasants moved to these growing towns looking for work. Most had

Not many could have anticipated the rapid rise of the European industry that was realized from industrial revolution. As a note, dominance in wage labor, rapid growth of cities and evolution of industries mostly from steel and iron factories were perhaps the greatest changes that were experienced. In economic changes, manifestations were evident through the increased rates of immigration to better places, rapid growth of cities as centers of trade and changes in the type of work and working structures. Socially, reorganization of family was experienced as well as changes in ownership of jobs, rural to urban migration as well as where and when to work (Lynn et al. 413-414). Politics also played a great role in

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

Europe during the 16th century went through many changes. Due to the Renaissance and Humanism, Europe would see a great change in its structure, thus throwing itself into an age of creative individualism. The Renaissance infused Humanism into government and gave every man a right to his own will and future. This century also saw growth in the form of new lands, reformed government, and technological advances such as the printing press, which could not have arrived at a more perfect time. Europe was more literate and eager to learn than ever before, which can be credited to the Renaissance, and rapid growth of university. The mid 1500s also marked the beginning of the Scientific Revolution. All of these things considered, the Protestant Reformation may have been the most revolutionary event for Europe in the 16th century. It changed the way humans think about the Catholic Church and its politics. The importance of this reformation could not have been better stated than by Steven Kris in his lecture on the Protestant Reformation: