Historical Notes on the Commercial Revolution and Age of Exploration
The Commercial Revolution and the Rise of International Trade
The period post marked the beginning of a significant shift in global interactions known as the rise of international trade. This era was characterized by individual exploration and profound cultural diffusion. Key figures who facilitated these connections included the explorers Ibn Battura, Marco Polo, and Zheng He. A major catalyst for this change was the rise of Italy and its trade networks, combined with the impact of the Crusades, which served to end Emopen isolation. Following the plague, there was a notable growth of towns, leading into what is formally recognized as the Commercial Revolution.
Social and Economic Changes in Business and Towns
The Commercial Revolution, spanning the and , brought about fundamental changes in business and trade. One of the central economic ideologies to emerge was Mercantilism, defined as government-sponsored overseas trade involving colonies. This period saw the growth of towns and the emergence of a substantial middle class. The agricultural foundation for this population growth was the transition to the field System. In this system, farmers began to plow two fields and rest one field, replacing the older method of plowing one field and resting one field. This innovation supported a growing urban population, although the resulting cities were often dirty and unplanned.
Guilds and the Merchant Class
As towns offered new economic opportunities, a growing middle class and urban growth occurred. A central feature of this urban economy was the Guild: a group of people with the same occupation. Guilds were highly regulated organizations that controlled wages, prices, and the quality of goods in their respective fields. Only those recognized as "masters" could join a guild. The path to becoming a master involved a specific hierarchy: one started as an Apprentice, moved to a Jamey man, and finally reached the rank of Master. Examples of professional roles within this system included silversmiths, carpenters, and glassmaun. This new structure effectively destroyed the traditional feudal social structure and the system of manorialism.
The Transition to Capitalism and New Business Practices
The rise of Capitalism introduced a new economic system based on the private ownership and investment of wealth for profit. Under this system, governments were no longer the sole owners of wealth. Prices were determined by the laws of supply and demand, and individuals began to invest their wealth in trade, companies, and various businesses. This led to an increase in social mobility, with merchants and Banks rising in status. New business practices emerged sought to break Venice's monopoly on trade with the Sille roaned. Monarchs began investing in exploration, leading to the formation of the Joint Stock Company. Notable examples include the Dutch East India Company and the British East India Company. In these companies, individuals could own stocks, or shares, of a business.
Questions & Discussion
How long did someone have to live in a town to become free? For a year and a day.
What are one positive and one negative effect of the growth of towns? One positive affect yuas that trade was flourishing. One negative affect is that towns were getting dirty and had narrow Streets.
Give three specific reasons why the food supply increased. Farming methods developed to produce crops. Such as the horses pulling plows, harness that helped use the horses, and the three-feild system. These helped farmers grow large amount of food.
Who made up the growing "middle" class of people? Merchants, traders, and Artisans.
What events would towns hold to sell goods from merchants from around the world? Towns held fairs to sell goods from merchants from around the world.
Guild members played what roles? Balers, trailors, and glass makers. They also set the prices of their products.
Why were Christians not allowed to loan money? Who could loan money? The church had rules against charging a fee for loaning moneg. The Jews could loan money and became the chief sources of loans.
Why was there a renewed interest in learning? What were these centers and what were the schoolmen called? Trade and wealth made them grow an interest in learning. Centers for learning increased, called Universite s. The scholars were known as schoolmen, or scholastics, and they met at great universities using logic, as seen with Aquinas and his fellows.
Describe how ancient works from Rome and Greece became available in Europe once again. During the crusades, contact with the muslims and muslim scholars who preserved ancient works made them available once again.
What was the impact of Alighieri and Chaucer writing in their own vernacular? It brought literature to many people.
The Age of Exploration: Motivation and Portuguese Pioneers
The Age of Exploration was motivated by power and control, specifically the "Three G's": Wealth, Curiosity, and Mercantilism. Prince Henry of Portugal was a central figure, establishing a Navigational school that brought together mapmakers, ship builders, scientists, and sea captains to explore the east coast of Africa and establish trade. Key Portuguese explorers included Diaz, who reached the tip of Africa, and De Gama, who successfully reached India. Their primary goal was to explore the coast of Africa and establish trade dominance.
Spanish Exploration and the Treaty of Tordesillas
Spanish exploration pursued different routes and milestones. Magellan is credited with traveling the whole globe, although he died during the journey. Colombus traveled to the Caribbean four times, maintaining the belief until his death that he had reached India. To resolve potential conflicts between the two exploring powers, Pope Alexander VI brokered the Treaty of Tordesillas in . This agreement split the newly discovered world into halves between Spain and Portugal.
Mercantilism and the Global Economic Balance
Mercantilism remained the dominant economic theory, emphasizing government control of trade to ensure the power and wealth of the state. It focused on maintaining a Favorable Balance of Trade, where a country's exports exceeded its imports. In this system, the Mother Country utilized its colonies to acquire silver and gold. The overall effects of this policy included an increase in European wealth and power, the expansion of colonization and imperialism, and in some cases, a lack of spending on citizens in favor of religion or military gain. Personal goals of explorers sometimes included acquiring new clothes or the ability to buy a penthouse.
The Columbian Exchange and Global Demographic Shifts
The Columbian Exchange represents the massive transfer of biological and cultural materials between the Old World and the New World. Items moving from the Old World to the New World included various animals, plants, and devastating diseases such as smallpox, which decimated native populations due to different environments and biological vulnerabilities. Conversely, items moving from the New World to the Old World included plants like potatoes, tobacco, and beans. This exchange was a primary driver for further colonization of the Americas.
Colonization, Social Hierarchy, and Labor Systems
Colonization led to the establishment of a new, rigid social hierarchy in the Americas. At the top were the Peninsulares, who were Spanish-born and served as the ruling political elite. Below them were the Creoles, American-born descendants of the Spanish who owned plantations, ranches, and mines but held no political power. The next tier consisted of Mestizos (people of Native and European descent) and Mulattoes (people of African and European descent). At the bottom of the hierarchy were Natives and Africans. To extract labor from this new world, the Spanish implemented the Encomienda System, which forced natives into labor. As natives died from disease, Europeans increasingly turned to the Middle Passage, part of the Triangular Trade involving Europe, Africa, and the Americas. In this system, Europeans monopolized trans-Atlantic trade, moving goods such as slaves, guns, and sugar across the ocean.