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THE ECONOMY IN THE 17TH CENTURY, image , image , image , image , …
THE ECONOMY IN THE 17TH CENTURY
European economy
Wars, which resulted in areas being plundered and a reduction in the workforce in the countryside
Plagues and other epidemics caused an increase in mortality
Farmers migrated to the cities to avoid paying taxes.
Agricultural techniques were outdated, resulting in low productivity
There were years of bad harvests
When agricultural production decreased, prices rose and the majority of the population did not have enough food
This situation is called a subsistence crisis, and ocurred frequently in the 17th century. Hunger spread, resulting in a decreased in the population or demographic decline throughout Europe.
In the second half of the century, the situation improved slightly. Increase the population
Following factors
There were fewer wars
There was a growth in colonial trade, with the incorporation of English, French and Dutch trades. Organise a trading system
Colonial empires expanded
Textile industry grew in some countries
Monarchs intervened in the economy, implementing the mercantile system
Protect national industries by taxing imported products
Increase the amount of precious metals entering their kingdom and prevent them from entering other countries
Economic crisis in Spain
Spanish monarchy became involved
Other factors also contributed to the worsening of the agricultural crisis.
Agricultural crisis and the decline in the population
The expulsion of the Moriscos in 1609 meant that more than 300000 people left the Peninsula
Many farmers left the countryside due to the hard way of life
Picaros became more predominant, these are people from a low social class who manage to survive by deceiving and cheating
Other migrated to America
Trade and craft industry crisis
Spanish monarchy ran out of resources from the Americas
There was a crisis in the craft industry.
Trade with the Americas also decreased, as craft industries were established locally to meet the demand
The rest of the colonial empires established trading posts in the Americas in order to sell their products there
