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ECONOMIC CHANGES IN THE 18th CENTURY - Coggle Diagram
ECONOMIC CHANGES IN THE 18th CENTURY
During the 18th century
...
European economies had
the same characteristics
as in the earlier phases of the Ancien Régime
harvests improved
new agricultural techniques
crop rotation
improved agricultural machinery
new crops
corn
potatoes
Craft production
increased
guilds also had to compete with new systems of production
domestic system
In rural areas
more important
Peasants made products in their own homes and sold them to merchant
Royal manufacturers
royal factories
luxury goods
large workshops and their workers used simple tools
Economic reforms in Spain
The Spanish economy experienced growth
result of reforms introduced by Felipe V, Fernando VI and Carlos III.
sociedades económicas de amigos del país
carrying out scientific
economic
technical studies
publishing the results
Important reforms
craft production
royal manufacturers
porcelain
luxury goods
silk
textile production in Cataluña
trade
internal customs duties were abolished
allowing free trade with America
agriculture
canals were built to facilitate irrigation
uninhabited areas were colonised
The triangular trade
Monarchs increased domestic trade by improving roads and building new ones
built canals to connect river systems and modernised ports
International trade grew
The triangular trade routes between Europe, Africa and America were controlled by the British
global trade was carried out through private companies
granted these companies monopolies
