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THE EARLY MODERN AGE - Coggle Diagram
THE EARLY MODERN AGE
ECONOMIC TRANSFORMATION
following the economic crisis eupeans experience a recovery
increased agricultural production
increase of land under cultivation
no technological advances
three-field system maintained
Intensified commercial activity
excess of food was produced
surplus were sold in markets
merchants established trade routes
The expansion of craftsmanship
products made in workshops
were controlled by guilds
people create products in their houses
domestic sistem was created
voyages of exploration-->new products
The development of mercantile capitalism
capital belong to private owners
members of bourgeoisie created trading companies
THE EARLY MODERN AGE
economic growth -->development of banking
Bankers started changing money
Providing loans
merchants needed money to begin new commercial activities
bankers lent money exchange returning the same amount plus an additional amount
Traders made large profits they could pay their loans back
bankers became rich
monarchs also asked the banks for loans
most important banking families
Medici in Florence
Fugger family in Germany
Creating new forms of payment
bill of exchange was created
a document guaranteed banker would pay a merchant
no longer necessary to travel with cash
SOCIAL CHANGE
prosperity resulted in an increase in the population
Cities grew, especially those on trade routes
an urban society developed
Society continued to be divided into classes
priviledged class
nobility and the clergy
They were a minority
the only ones who had access to high political positions
numerous privileges
unprivileged class or commoners
majority of the population
paid numerous taxes
did not have access to high political positions
various sub-groups
peasants
bourgeoisie
upper
petite
marginalised group
vagabonds
beggars