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The economy and society of the Ancien Régime, image, image, image, image,…
The economy and society of the Ancien Régime
Ancien Régime's economy characteristics
the dominance of the guilds
associations of craftsmen in the same trade
domestic trade grew very little
foreign trade was expanding
traditional agriculture with very low productivity
Agriculture was not commercial
17th century
Europe's absolute monarchs imposed a new economic system
mercantilism
a country's wealth depended on how much gold and silver it possessed
monarchs implemented protectionist policies
to accumulate more of these precious metals
economic crisis in Spain and in most parts of Europe
why?
American markets had stopped buying Spanish products
agriculture in these colonies become more self-sufficient
Spanish craftsmen
couldn't compete with products made in other countries
the monarch did not protect them
Prices increased
so much gold and silver was brought to Europe from America
many farmlands were abandoned and craft production fell
Society in Spain
privileged groups
nobles didn't invest in productive or profit-making activities.
number of people entering the clergy increased
had its own peculiar and clichéd characteristics
a sense of honour
the idea that work was dishonourable
commercial bourgeoisie was small and insignificant
