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THE EARLY MODERN AGE - Coggle Diagram
THE EARLY MODERN AGE
ECONOMIC TRANSFORMATION
New products were brouth to Europe.
Due to the voyages of exploration to new lands
The development of mercantile capitalism:
an economic system in which capital belong to private owners
created trading companies to generate profits
The expansion of craftsmanship:
Products were made in workshops, which were controlled by guilds
Providing loans:
Merchans needed money to start new commercial activities
So bakers gave the a money and then in a period of time they would have to returned them with a surplus, thsi is called loans.
This made bankers rich
This made a vital role in the new system
Mercantil capitalism
Intensified commercial activity:
The increase on agricultaral production made there were an excess of food production.
This excess of food is sold on city markets.
Merchants and traders travelled in search of food, establishing plans of route.
Creating new forms of payment:
The bill of exchange was created
It was a document which guaranteed the banker would pay a merchant, or any other authorised person
Increased the agricultural production:
Increase in the amount of land under cultivation.
Agriculture and livestock farming continued to be the main source of economic activity.
Three-field system was used.
The land was divided into three and two were use and one was left fallow, and the next year one that the last year was used was left fallow.
SOCIAL CHANGE
Rural society develop as well as urban society
There were different social classes
Unprivilage class
peasant
bourgeoisie
Privilage class
Nobelty
Clergy
King and Queen
Beggar and vagabonds
The early modern age started in 1453 with the fall of Constantinople and ended with the French Revolution.
