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THE EARLY MODERN AGE, image, image, image, image, image, image, image,…
THE EARLY MODERN AGE
Social change
Economic resulted in an increase in the population. The cities that most grew, especially were those with important ports, such as Venice, Paris, London, Cologne, Lisbon and Antwerp
As well as the rural society, an urban society developed
Society continued to be divided into different social groups, as in the Middle Ages
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The early modern age
The Early Modern Age began in 1453 with the Fall of Constantinople and ended with the French Revolution in 1789
Ecomomic trasformation
At the end of the Middle Ages, European societies began to experience a recovery
The development of mercantile capitalism: an economic system in which capital belonged to members of the bourgeoisie (middle class), that created trading companies to generate profits.
New products were brought to Europe. These included precious metals, foods and spices
The expansion of craftsmanship: products were made in workshops, which were controlled by associations of craftsmen called guilds
Intensified commercial activity: the increase in agricultural production resulted in a surplus in production, that is, an excess of food produced
Providing loans: merchants needed money to begin activities. The bankers lent money in exchange for returning the same amount plus an additional amount
Creating new forms of payment: the bill of exchange was created. This was a document which guaranteed that the banker would pay a quantity of money, on a specified date and at a specified place.
Increased agricultural production: in this period there was an increase in the amount of land under cultivation
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