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THE ECONOMY IN THE 17TH CENTURY, image, image, image, image, image, image …
THE ECONOMY IN THE 17TH CENTURY
THE EUROPEAN ECONOMY
Agricultural crisis
affected
Wars
agricultural production
decreased
in areas being plundered
a reduction in the workforce
in the countryside
Farmers
migrated to the cities
to avoid paying taxes
in period of crisis
many of them fled
because they were unable to pay them.
Plagues
epidemics
increase
in mortality
resulting
in a reduction
in the agricultural workforce
Agricultural techniques
were outdated
resulting in low productivity
Years of bad harvests
Subsistence crisis
agricultural production decreased
prices rose and the majority of the population
not have a lot of food
In the second half
the situation improved slightly
resulted
in an increase
in the population
factors of the decline
Was a growth in colonial trade
incorporation of traders of
French
Dutch
English
Were fewer wars
The textile industry grew
in England
in Holland
The monarchs intervened in the economy
mercantile system
governors have to
Increase the amount of precious metals
Protect national industries
THE ECONOMIC CRISIS IN SPAIN
The agricultural crisis and the decline in the population
1609
expulsion of the Moriscos
many people left the Peninsula (farmers)
negative effect on agriculture
Aragón
Valencia
Many farmers left the countryside
due to the hard way of life
migrated to
cities where they survived
Pícaros
became
more predominant
people from a low social class
Others migrated to
America
escape poverty
The trade and craft industry crisis
While other kingdoms were
creating and expanding their colonial empires
Spanish monarchy
ran out of resources
from the Americas
The mines
were empty
Spanish monarchs' main source decreased
sea route to the Americas from
pirates
smugglers
crisis in the craft industry
manufactured products weren't priced in comparison to other countries
Trade with the Americas -> decreased
Spanish monarchy became
more wars than the other European powers
The worsening of the agricultural crisis
resulting
demographic decline
