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THE EARLY MODERN AGE, image, image, image, image, image, image - Coggle…
THE EARLY MODERN AGE
ECONOMIC TRANSFORMATION
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New products
Due to the voyages of exploration to new lands, new products were brought to Europe. These included precious metals, foods and spices.
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Economic growth resulted in the development of banking. Bankers started changing money and looking after the money and precious metals of their clients.
Providing loans
The bankers lent money in exchange for returning the same amount plus an additional amount, called interest.
The Medici in Florence and the Fugger family in Germany were among the most important banking families.
Banking played a vital role in the new system, known as mercantile capitalism, by financing the trading companies.
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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.
Diferent classes
Priviledged class
consisted of the nobility and the clergy. They were the only ones who had access to high political positions
Privileges
They didn´t pay taxes, and they were judged by special tribunals. They lived in their castles in the countryside or in palaces in the city.
Unprivileged class
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Bourgeoisie
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Petite bourgeoisie
were small merchants, less important officials, all types of artisans, artists, servants and labourers.
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Upper bourgeoisie
were important merchants, bankers and officials.
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Some of the upper bourgeoisie became wealthier than the nobles themselves. As a result, families from the nobility began marrying into the richest families of the bourgeoisie.
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