Commercial Revolution
Commercial Revolution
The discovery of the New World and the creation of its sea routes and the sea routes of the India brought plenty of changes to the whole world; these changes involved the culture, politics, economics and behaviors around the world. Moreover, during the period of the 14th to the 19th century, Europe was economically affected since they experienced the greatest economic changes in history and because of these modifications this period of time was called the Commercial Revolution. This period marked the end of Medieval Europe and the beginning of the modern era of the development. Moreover, it is of great importance to analyze how the discovery of America helped to improve Europe’s economy, how this had also a negative effect on its economy and what were the overall consequences of the commercial revolution.
As mentioned before, the Commercial Revolution was a period of time in which many changes surged. It was characterized by the rise of a capitalistic economy and the transition from a town-centered to a nation-centered economic system (Palmer y Colton); in other words, it was a capitalistic economy because there were private ownerships of the means of production and distribution, and they were implementing new techniques like investing in order to produce more capital. Moreover, it became a nation-centered economic system because it was not only focused in a specific region, but in the entire territory.
This began as early as the fourteenth century and lasted until machine industry began to overshadow commerce in the nineteenth century. In order to understand the sequence of these events, it is important to start by pointing out that Europeans rediscovered spices, silk and other commodities in Europe. Therefore, this progress created a desire for trade which increased in the Middle Ages. It can be say that the Europeans had a visionary mind, they could have kept all their goods, but they took the right decision by trading what they
The discovery of the New World and the creation of its sea routes and the sea routes of the India brought plenty of changes to the whole world; these changes involved the culture, politics, economics and behaviors around the world. Moreover, during the period of the 14th to the 19th century, Europe was economically affected since they experienced the greatest economic changes in history and because of these modifications this period of time was called the Commercial Revolution. This period marked the end of Medieval Europe and the beginning of the modern era of the development. Moreover, it is of great importance to analyze how the discovery of America helped to improve Europe’s economy, how this had also a negative effect on its economy and what were the overall consequences of the commercial revolution.
As mentioned before, the Commercial Revolution was a period of time in which many changes surged. It was characterized by the rise of a capitalistic economy and the transition from a town-centered to a nation-centered economic system (Palmer y Colton); in other words, it was a capitalistic economy because there were private ownerships of the means of production and distribution, and they were implementing new techniques like investing in order to produce more capital. Moreover, it became a nation-centered economic system because it was not only focused in a specific region, but in the entire territory.
This began as early as the fourteenth century and lasted until machine industry began to overshadow commerce in the nineteenth century. In order to understand the sequence of these events, it is important to start by pointing out that Europeans rediscovered spices, silk and other commodities in Europe. Therefore, this progress created a desire for trade which increased in the Middle Ages. It can be say that the Europeans had a visionary mind, they could have kept all their goods, but they took the right decision by trading what they
Cited: Coffin, Judith and Robert Stacey. "The Profits of Empire in the New World." Western Civilizations. New York: Norton & Company , 2005. 339. Palmer, R.R and Joel Colton. "The Commercial Revolution." A History of the Modern World. New York: McGraw-Hill, 2002. 104-112. Perry, Marvin. "Changes Bring a Revolution in Economic Life." A History of the World . Boston: Houghton Mifflin , n.d. 363-369.