The Commercial Revolution

The Commercial Revolution was a significant period that marked an economic transition from feudalism to capitalism, leading to fundamental changes in economic practices and social structures. Key causes included expansions in trade, labor shortages due to the Black Death, colonialism which brought raw materials to Europe, the rise of mercantilism, and advancements such as the printing press which improved record-keeping. Economic impacts included a direct relationship between supply and demand and the end of the feudal system, leading to urbanization and the emergence of joint-stock companies. Capitalism developed as a system where private owners control trade and industry for profit. The effects of this revolution included profits in various sectors, increased service accessibility, a shift of individuals out of serfdom, and growing economic inequality that influenced revolutions in the following centuries.