MU #4 Price Revolution & Commercialization
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12 Terms
What was the price revolution?
Influx of New World goods/silver
Where did the silver come from?
Spain
What happened as a result of the Price Revolution?
Prices and demand for food went up
What was the Enclosure Movement?
Landowners closed/fenced off land from peasants to commercialize farming
What happened to remaining peasants?
Kicked off Common Land, had wage labor
What started commercialization?
Enclosure Movement
What is commercialization?
harvesting/selling crops for profit
What new ideas arrived from Italy?
Credit, loans, banking, printed money
How did peasants feel about the Enclosure Movement?
Angry; Kett’s Rebellion England 1549
What is mercantilism?
New systems of banking, prioritizing exports over imports
What happened as a result of mercantilism?
-expanded joint-stock investment
-investment in exploration and new companies
-increased colonization (British East India Company, Dutch East India Company)
Which part of Europe did not undergo commercialization?
-East Europe (Poland, Russia, Hungary) tied to serfdom
-land based nobles held power
Note 
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