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Economic transformations and social changers (Economic growth (The…
Economic transformations and social changers
Demographic growth
During the 15th and 16th centuries, population was favoured by :
The eradication of the plague
The increasement of the population gave rise to higher demand for
Agriculture
Handicraft products
Stimulated trade
Relative peace
Improved harvests
Economic growth
The handicrafts
It developed a system of home working, where businesspeople provided the peasantry with raw materials and tools to make products.
Trade
Trade routes were diversified and new products from America were incorporated.
Agrarian activities
It was encouraged by good harvests and the clearing of new land.
Capitalist economic system
It was merchant capitalism, based on the accumulation of capital acquired from trade.
Social changes
The bourgeoisie
It grew wealthy thanks to
Business dealings
Banking
Transoceanic trade
The peasantry
Made up the majority of the commoners.
In Western Europe, they were paid a wage to work the land of the nobility.
In Eastern Europe, they were more closely tied to the land.
The nobility and the clergy
Privileged estates which maintained both their economic power and privileges.
