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:moneybag: The Early Modern Age :moneybag: - Coggle Diagram
:moneybag: The Early Modern Age :moneybag:
The
Early Modern Age
began in
1453
with the
Fall of Constantinople
and ended in
1789
with the
French Revolution
Economic Transformation
Intensified commercial activity
: the
increase in agricultural production
resulted in a
surplus in production
. The surplus products were
sold
in the
city markets
.
The expansion of craftsmanship
: products were made in
workshops
, which were
controlled
by
associations of craftsmen
called
guilds
.
Increased agricultural production
: in this period there was an
increase
in the amount of land under cultivation, and the
three-field system
was maintained.
Domestic system
New products
brought to Europe
The development of mercantile capitalism
: an
economic system
in which
capital
belonged to
private owners
.
Creating new forms of payment
: the
bill of exchange
was created. This was a
document
which
guaranteed
that
the banker would pay a merchant
, or another authorised person,
a quantity of money
, on a
specified date
and at a
specified place
.
Providing loans
: merchants needed
money
to begin
new commercial activities
. The
bankers
lent money in exchange for
returning the same amount plus an additional amount
, called
interest
.
Social Change
As well as the rural society that developed in the Middle Ages, an
urban society
developed. This became one of the
defining characteristics
of the Early Modern Age.
Society
continued to be
divided
into
different social groups
or
classes
, as in the Middle Ages:
The
privileged class
:
It consisted of the
nobility
and the
clergy
, and they had
numerous privileges
The
unprivileged class
or
commoners
:
It consisted of the
majority
of the population. They paid
numerous taxes
and they
didn't have access
to
high political positions
. It was divided into:
The
peasants
formed the
largest
group, and they were
serves
of the
feudal lord
or
noble
The
bourgeoisie
were the
city inhabitants
and they were
not ruled
by a feudal lord. This group
increased
in number, became
wealthier
and gained more
political influence
. This was also divided into two groups;
The
upper bourgeoisie
were
important merchants, bankers
and
officials
, and they lived in richly decorated
urban palaces
. They formed the
ruling class
together with the city nobles.
The
petite bourgeoisie
were
small
merchants,
less important
officials, all types of
artisans, artists, servants
and
labourers
. They formed the
largest
group in the cities, and lived in
humble houses
.