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ECONOMIC CHANGES IN THE 18TH CENTURY - Coggle Diagram
ECONOMIC CHANGES IN THE 18TH CENTURY
beginning of the 18th century
European economies had the same characteristics as in the earlier phases of the Ancien Régime.
the reforms introduced by enlightened monarchs led to important changes in all sectors of the economy.
harvests improved
new agricultural techniques
new crops were introduced
Craft production increased
population growth caused an increase in demand for many consumer goods.
new systems of production.
the domestic system of production became more important.
Royal manufacturers produced various luxury goods.
Economic reforms in Spain
Spanish economy experienced growth
The sociedades económicas de amigos del país also played an important role
Reforms
agriculture
canals were built to facilitate irrigation
uninhabited areas were colonised
craft production
royal manufacturers were established for silk, porcelain and other luxury goods.
trade
internal customs duties were abolished.
The tringular trade
Monarchs increased domestic trade by improving roads and building new ones.
They also built canals to connect river systems and modernised ports.
International trade grew due to increased exchanges of goods between Europe and the American colonies.
