Please enable JavaScript.
Coggle requires JavaScript to display documents.
THE ECONOMY IN THE 17TH CENTURY - Coggle Diagram
THE ECONOMY IN THE 17TH CENTURY
THE EUROPEAN ECONOMY
In the 17th century, there was an agricultural crisis. Agriculture was the main economic activity and was seriously affected by the following factors
Wars
Which resulted in areas being plundered and a reduction in the workforce in the countryside. Consequently, agricultural production decreased
Plagues
Caused an increase in mortality, resulting in a reduction in the agricultural workforce
Farmers migrated
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Agricultural techniques were outdated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 harvest
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. Consequently, 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
This resulted in an increase in the population, compensating for the previous decline
By the end of this century, the population had increased to the same level that it was at the beginning
The following factors enabled this recovery to occur
There were fewer wars
There was a growth in colonial trade
The textile industry grew in some countries,
England and Holland
The monarchs intervened in the economy
implementing the mercantile system
Governors had to do the following to help the economy prosper
Increase the amount of precious metals entering their kingdoms and prevent them from entering other countries
Protect national industries by taxing imported products
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, resulting in a greater demographic decline in Spain than in the rest of Europe.
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
The majority were farmers
This had a very negative effect on agriculture
Especially in Aragón and Valencia, where they were a fifth of the population.
Many farmers left the countryside due to the hard way of life
They migrated to the cities where they survived by begging
Pícaros (rogues) became more predominant
These are people from a low social class who manage to survive by deceiving and cheating others
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
In addition, their sea route to the Americas was constantly under threat from pirates and smugglers
There was a crisis in the craft industry
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 rest of the colonial empires established trading posts in the Americas in order to sell their products there