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THE ECONOMY AND SOCIETY OF THE ANCIEN RÉGIME - Coggle Diagram
THE ECONOMY AND SOCIETY OF THE ANCIEN RÉGIME
Characteristics
traditional agriculture
very low productivity
the dominance of the guilds
associations of craftsmen in the same trade
domestic trade
grew very little
foreign trade was expanding
Mercantilism
17th century
imposed by Europe's absolute monarchs
country's wealth depended on how much gold and silver it possessed
monarchs implemented protectionist policies
making foreign products very expensive, to keep gold and silver in the country
The estates of the realm
The First and Second Estates
the clergy and nobility
maintained their privileges
Third Estate
the ordinary people
did not have any privileges
The nobility and the clergy
did not pay taxes
maintained their economic power
by collecting tithes from the peasants
the lesser nobility and the lower clergy were often poor
The Third Estate
had to pay taxes
upper middle class or bourgeoisie
prominent merchants and business owners
became richer and more powerful
lower middle class or petite bourgeoisie
small merchants and craftsmen
declined
the peasantry and day labourers
suffered during the 17th century
poor harvests, rising prices and the higher taxes
