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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
In the 17th century, there was an agricultural crisis
agriculture was seriously affected by the following factors
Wars
which resulted in areas being plundered and a reduction in the workforce in the countryside
Plagues
epidemics caused an increase in mortality
Farmers migrated
to the cities to avoid paying taxes
Agricultural techniques
were outdated
bad harvests
There were years of bad harvests
When agricultural production decreased
prices rose
the majority of the population did not have enough food.
This situation is called a subsistence crisis,
occurred frequently in the 17th century
Consequently
hunger spread, resulting in a decrease in the population or demographic decline throughout Europe
In the second half of the century, the situation improved slightly
This resulted in an increase in the population
The following factors enabled this recovery to occur
There was a growth in colonial trade
The textile industry grew in some countries
There were fewer wars
The monarchs intervened in the economy, implementing the mercantile system
Increase the amount of precious metals entering their kingdoms and prevent them from entering other countries
Protect national industries by taxing imported products.
THE ECONOMIC CRISIS IN SPAIN
THE ECONOMIC CRISIS IN SPAIN
Other factors also contributed to the worsening of the agricultural crisis
The agricultural crisis and the decline in the population
The expulsion of the Moriscos in 1609 meant that more than 300 000 people left the Peninsula
the majority of whom were farmers
This had a very negative effect on agriculture
Many farmers left the countryside due to the hard way of life
They migrated to the cities where they survived by begging.
Pícaros (rogues) became more predominant
Others migrated to America in order to escape poverty
The Spanish monarchy became involved in more wars than the other European powers
The trade and craft industry crisis
While other kingdoms were creating and expanding their colonial empires
the Spanish monarchy ran out of resources from the Americas.
The mines were almost empty, and consequently the Spanish monarchs' main source of income decreased
In addition, their sea route to the Americas was constantly under threat from pirates and smugglers.
There was a crisis in the craft industry
Trade with the Americas also decreased
