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THE ECONOMY IN THE 17TH CENTURY, The European economy, In the second half,…
THE ECONOMY IN THE 17TH CENTURY
The European economy
Agriculture was affected by
Farmers migrated
many of them fled because they were unable to pay them
Agricultural techniques
were outdated, resulting in low productivity
Plagues
caused an increase in mortality, resulting in a reduction in the agricultural workforce
Bad harvests
There were years of bad harvests
Wars
which resulted in areas being plundered and a reduction in the workforce in the countryside
In the 17th century, there was an agricultural crisis
The economic crisis in Spain
The agricultural crisis and the decline in the population
The expulsion of the Moriscos in 1609 meant that more than 300 000 people left the Peninsula
Many farmers left the countryside due to the hard way of life
Pícaros (rogues) became more predominant
The trade and craft industry crisis
the Spanish monarchy ran out of resources from the Americas
There was a crisis in the craft industry
Trade with the Americas also decreased, as craft industries were established locally to meet the demand
the situation improved slightly
There were fewer wars
The monarchs intervened in the economy, implementing the mercantile system
The textile industry
grew in some countries
England
Holland
There was a growth in colonial trade, with the incorporation of English, French and Dutch traders
This situation is called a subsistence crisis, and occurred frequently in the 17th century
Consequently, hunger spread, resulting in a decrease in the population or demographic decline throughout Europe
The European economy
In the second half
