Economic transformations and social changers (Economic growth (The…
Economic transformations and social changers
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
It developed a system of home working, where businesspeople provided the peasantry with raw materials and tools to make products.
Trade routes were diversified and new products from America were incorporated.
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.
It grew wealthy thanks to
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.