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THE ECONOMY IN THE 17TH CENTURY - Coggle Diagram
THE ECONOMY IN THE 17TH CENTURY
The economic crisis in Spain
The agricultural crisis and the decline in the population
Many farmers left the countryside due to the hard way of life, they migrated to the cities where they survived by begging
Picaros became more dominant
In 1609
The expulsion of the Moriscos, more than 300 000 people left the Peninsula, the majority of whom were farmers
The trade and craft industry crisis
There was a crisis in the craft industry, this caused that the Spanish manufactured products were not competitively priced in comparison to other countries
Trade with the Americas also decreased, as craft industries were established locally to meet the demand
The mines were almost empty, and consequently the Spanish monarchs' main source of income decreased
The rest of the colonial empires established trading posts in the Americas in order to sell their products there
While other kingdoms were creating and expanding their colonial empires, the Spanish monarchy ran out of resources from the Americas
The European economy
In the first half of the 17th century
Agricultural crisis
Farmers migrated
To the cities to avoid paying taxes
This caused that in periods of crisis many of them fled because they were unable to pay them
Agricultural techniques
Weren't modern
This caused the resulting in low productivity
Plagues
Caused an increase in mortality
This caused the reduction in the agricultural workforce
Bad harvests
Were many years
Wars
Resulted in areas being plundered and a reduction in the workforce in the countryside
This caused that the agricultural production decrease
In the second half of the 17th century
Was a growth in colonial trade, with the incorporation of
French
Dutch
English
The textile industry grew in some countries
Were fewer wars
The monarchs intervened in the economy implementing the mercantile system