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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
First half
of 17th century
Agriculture was the
main economic activity
and was
seriously affected
Factors:
Farmers migrated to the cities
to
avoid paying taxes
many of them fled because they were unable to pay them
Agricultural techniques
were outdated
resulting in low productivity
Plagues
Plagues and epidemics caused an increase in mortality, resulting in a reduction in the agricultural workforce
There were
years of bad harvests
Wars
There were years of bad harvests
agricultural production decreased
When agricultural production decreased
Prices rose
the majority of the population did not have enough food
Subsistence crisis
occurred frequently
hunger spread
resulting in a decrease in the population
or
demographic decline throughout Europe
there
was an agricultural crisis
Second half
of the century
the situation
improved slightly
increase in the population
compensating for the previous decline
Factors enabled this recovery:
There
were fewer wars
growth in
colonial trade
English, French and Dutch traders
organise a trading system
founding of private trading companies
The
colonial empires expanded
English in India, French expanding to North America and the Dutch in South Africa and Indonesia
Textile industry
grew in some countries
England and Holland
Intervened in the economy
monarchs
Mercantile system
governors had to do the following to help the economy prosper
Increase the amount of precious metals
and prevent them from entering other countries
Protect national industries by taxing imported products
1.2.THE ECONOMIC CRISIS IN SPAIN
became involved in more wars
Other factors
contributed to
agricultural crisis
demographic decline
The agricultural crisis and the decline in the population
expulsion of the Moriscos
in 1609
+300 000 people
were a fifth of the population.
the majority were
good
farmers
Negative effect
on
agriculture
in Aragón and Valencia
The trade and craft industry crisis
Spanish monarchy
ran out of resources
from the Americas
Mines were almost empty
Spanish monarchs' main source of income decreased
Sea route to the Americas
under pirates and smugglers.
Crisis in the craft industry
Spanish manufactured products
were not priced
in comparison to other countries
Trade with the Americas
decreased
craft industries were established locally
