1. The Commercial Revolution

2. Causes Population Growth “Price Revolution”
1500, 70 Million
1600, 90 Million
“Price Revolution”
Increase food prices, increased volume of money, and influx of gold and silver
States wanted to increase economic power
Rise in Capitalism (laissez-faire)

3. Banking
The Fuggers in Germany and the Medicis in Italy were among the leading bankers in Europe
Antwerp in Flanders became the banking and commercial centers of Europe in 16th century
Amsterdam became leader in 17th century after Dutch Revolt against Spain

4. Hanseatic League
Evolved within the German states in the Middle ages that eventually controlled trade in the much of northern Europe well into the 16th century
The league was a mercantile association of numerous cities and towns

5. Chartered Companies State provided monopolies in certain areas
British East India Company
Dutch East India Company
Chartered companies used large fleets of ships and military power

6. Joint Stock Companies Investors pooled resources for common purpose
Early example of capitalism

7. Stock Market
Investors financed a company by purchasing shares of stock
As the value of the company grew so did the value of the stock, making investors profit

8. Enclosures
Wealthy land owners enclosed their land to improve sheep herding
Led to great supply of wool for production of textiles

9. New Industries Cloth production Mining Printing Book Trade
Shipbuilding
Arms (Muskets and Cannons)

10. New Consumer Goods Sugar Rice Tea
Led to enormous slave trade in Atlantic
Rice
Tea

11. Mercantilism Nations looked to become self-sufficent
Created a favorable balance of trade
Exported more then imported
Gold and Silver
“Bullionism”
Acquire as much gold as possible

12. Significance Change in society
Completely rural and isolated more developed towns
Brought forth age of exploration
“Price Revolution”
Large Population  High Demand  Increasing Prices
Bourgeoisie grew in political and economical significance
Increased standard of living (upper/middle class)