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ECONOMY IN 17TH CENTURY, imagen, imagen, imagen, imagen, imagen, imagen,…
ECONOMY IN 17TH CENTURY
European Economy
Agricultural crisis
Agriculture was the main economic activity
Factors that affected this crisis
Outdated agricultural techniques
Low productivity
Bad harvests
Farmers migrated to the cities
To avoid paying taxes
They were unable to pay them
Plagues
Plagues and epidemics caused a lot of deaths
Reduction in agricultural workforce
Wars
Areas being plundered
Reduction in the workforce in the countryside
Prices rose
Subsistend crisis
Demographic decline in Europe
In the second half of the century the situation improved slightly
Factors that affected the revovery
Colonial trade growth
Incorporation of English, French and Dutch traders
Some kings encouraged the founding of private trading companies
Textile industry growth
Fewer wars
The monarchs intervened in the economy
Mercantile system
Increase the amount of precious metals entering their kingdoms and prevent them from entering other countries
Protect national industries by taxing imported products
Crisis In Spain
Spanish monarchy involved in more wars than other European forces
A lot of demographic decline
Agricultural crisis and demigraphic decline
Expulsion of the Moriscos in 1609 meant that more than 300 000 people left the Peninsula
Majority farmers
Hard way to live
Picaros became more predominant
A lot migrated to America
Trade and craft industry crisis
The Spanish monarchy ran out of resources from the Americas
Mines were empty
The rute to the Americas was constantly under threat from pirates and smugglers
Spanish manufactured products were not competitivly priced
Trade with Americas decreased
