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THE ECONOMY IN THE 17TH CENTURY - Coggle Diagram
THE ECONOMY IN THE 17TH CENTURY
The European economy
Agricultural crisis
Wars
In areas being plundered and a reduction in the workforce in the countryside.
Agricultural production decreased.
Plagues
Caused an increase in mortality.
Resulting in a reduction in the agricultural workforce.
Farmers migrated
To the cities to avoid paying taxes.
In periods of crisis, many of them fled because they were unable to pay them.
Agricultural techniques
Were outdated.
Resulting in low productivity.
There were years of bad harvests.
When agricultural production decreased, prices rose and the majority of the population did not have enough food.
Subsistence crisis
Occurred frequently in the 17th century.
Hunger spread.
Resulting in a decrease in the population or demographic decline throughout Europe.
In the second half of the century, the situation improved slightly.
Factors:
There were fewer wars.
There was a growth in colonial trade.
The textile industry grew.
The monarchs intervened in the economy, implementing the mercantile system.
The economic crisis in Spain
The Spanish monarchy became involved in more wars than the other European powers.
Other factors also contributed to the worsening of the agricultural crisis.
The agricultural crisis and the decline in the population
The expulsion of the Moriscos.
In 1609
More than 300 000 people left the Peninsula.
Many farmers left the countryside.
Pícaros (rogues) became more predominant.
Others migrated to America in order to escape poverty.
The trade and craft industry crisis
While other kingdoms were creating and expanding their colonial empires, the Spanish monarchy ran out of resources from the Americas.
The mines were almost empty, and consequently the Spanish monarchs' main source of income decreased.
Their sea route to the Americas was constantly under threat from pirates and smugglers.
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 rest of the colonial empires established trading posts in the Americas in order to sell their products there.
