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THE ECONOMY IN THE 17TH CENTURY, image, image, image, image, image -…
THE ECONOMY IN THE 17TH CENTURY
THE EUROPEAN ECONOMY
In the 17th century, there was an agricultural crisis
affected by the following factors:
Farmers migrated to the cities to avoid paying taxes.
Agricultural techniques were outdated
Plagues and other epidemics
years of bad harvests.
Wars
This situation is called a subsistence crisis,
Occured in the 17th century
hunger spread
Decrease in the population or demographic decline throughout Europe.
second half of the century, the situation improved slightly.
following factors enabled this recovery to occur
textile industry grew
monarchs intervened in the economy
fewer wars
growth in colonial trade
THE ECONOMIC CRISIS IN SPAIN
The agricultural crisis and the decline in the population
Many farmers left the countryside due to the hard way of life
Pícaros became more predominant.
meant that more than 300 000 people left the Peninsula, the majority of whom were farmers.
Others migrated to America
expulsion of the Moriscos in 1609
The trade and craft industry crisis
sea route to the Americas was constantly under threat from pirates and smugglers.
crisis in the craft industry.
mines were almost empty, and consequently the Spanish monarchs' main source of income decreased.
Trade with the Americas also decreased
Spanish monarchy ran out of resources from the Americas.
