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THE ECONOMY IN THE 17TH CENTURY, image, image, image, image, image -…
THE ECONOMY IN THE 17TH CENTURY
EUROPEAN ECONOMY
in the first half of the century there was an agricultural crisis:
Wars
which resulted in areas being plundered and a reduction in the workforce in the countryside
agricultural production decreased
Plagues and other epidemics
caused an increase in mortality
resulting in a reduction in the agricultural workforce
Farmers migrated to the cities to avoid paying taxes
Agricultural techniques were outdated
There were years of bad harvests
prices rose and the majority of the population did not have enough food
subsistence crisis
occurred frequently in the 17th century
hunger spread
decrease in the population or demographic decline throughout Europe
second half
the situation improved slightly
an increase in the population
compensating for the previous decline
factors
fewer wars
growth in colonial trade
incorporation of English, French and Dutch traders
English reaching India
French expanding to North America
the Dutch founding trading posts in South Africa and Indonesia
textile industry grew in some countries
such as England and Holland
monarchs intervened in the economy
implementing the mercantile system
ECONOMIC CRISIS IN SPAIN
agricultural crisis and the decline in the population
expulsion of the Moriscos
In 1609
more than 300 000 people left the Peninsula
majority of whom were farmers
negative effect on agriculture
Many farmers left the countryside due to the hard way of life
Pícaros
became more predominant
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
Spanish monarchy ran out of resources from the Americas
mines were almost empty
Spanish monarchs' main source of income decreased
their sea route to the Americas was constantly under threat from pirates
Spanish manufactured products were not competitively priced in comparison to other countries
