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1. THE ECONOMY IN THE 17TH CENTURY, image, image, image, image, image,…
1. THE ECONOMY IN THE 17TH CENTURY
1.1 THE EUROPEAN ECONOMY
Agricultural crisis happened
Was affected by
Wars
Plagues
Migration of farmers to the cities
Outdated agricultural technics
Bad harvests
Decrease of production
Prices rose
Was a subsistence crisis
Hunger spread
Decrease of population
Demographic decline
Second half
Situation improved
Improvement caused by
Fewer wars
Growth in colonial trade
Textile industry
Intervention of the monarchy
Mercantile system
Maintain and increase precious metals
Protect national industry
Taxing foreign products
1.2 THE ECONOMIC CRISIS IN SPAIN
Caused by
The huge amount of wars fought by Spain
Caused
Worsening of agricultural crisis
Greater demographic decline
Agricultural and demographic crisis
More than 300 000 people left the peninsula
With the expulsion of Moriscos (1609)
The majority were farmers
Many farmers migrated to cities
where they were beggars
Picaros became more common
Rogues from low classes
Survived by deceiving and cheating others
Other migrated to America
Trade and craft industry crisis
Spain ran out of resources
Trade
Sea routes to the Americas under attack
By pirates
By smugglers
Mines were depleted
Monarchy's main income source
Craft industry
Spanish products
more expensive than those from abroad
Craft industries established in America
Trade with America decreased
