Commercial Revolution: A period of economic expansion in Europe, characterized by increased trade and commerce.
Hanseatic League: A commercial and defensive confederation of merchant guilds and their towns in northern Germany and surrounding areas.
Money Economy: An economy in which goods and services are paid for with currency, as opposed to barter.
Capitalism: An economic system based on private ownership of the means of production and their operation for profit.
Market: A physical or virtual place where goods and services are exchanged.
Guild: An association of artisans or merchants who oversee the practice of their craft in a particular area.
Entrepreneur: An individual who creates and runs a new business, typically involving financial risks.
Monopoly: The exclusive possession or control of the supply or trade in a commodity or service.
Charter: A written grant by a legislative or sovereign authority conferring certain rights and privileges on a group or individual.
Joint Stock Company: A business entity where different stocks can be bought and owned by shareholders.
Dutch East India Company: A trading company established by the Netherlands that played a major role in trade between Europe and Asia.
Banking: The business conducted or services offered by a bank.
Bank of Amsterdam: One of the first modern banks, pivotal in the development of the banking system in Europe.
Capital: Wealth in the form of money or assets used to generate income.
Price Revolution: A period of time where inflation increased significantly across Europe.
Inflation: A general increase in prices and fall in the purchasing value of money.
Mercantilism: An economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances.
Subsistence Agriculture: Farming that provides enough food for the farmer and their family but not for sale.
Commercial Agriculture: Agriculture produced for sale in the market rather than for direct consumption by the farmer.
Enclosure Movement: The process of consolidating small landholdings into larger farms in England during the 18th century.
The "Putting Out" System: A domestic system of work where materials were distributed to rural workers who would produce goods in their homes.
Clergy: The body of all people ordained for religious duties, especially in the Christian Church.
Nobility: A social class marked by hereditary titles or privileges, often entitled to certain rights and benefits.
Landed Aristocracy: A social class of people who own large amounts of land and have titles to the land.
Gentry: The class of people next below the nobility in position or social status, usually owning land.
Bourgeoisie: The middle class, typically with reference to its perceived materialistic values or conventional attitudes.
Nobles of the Robe: French nobility who acquired status through holding judicial or administrative offices.
Town Elites: Individuals such as merchants and bankers who held significant economic and political power in towns.
Guilds: Various associations of craftsmen and merchants in the Middle Ages.
Working Class: Social class consisting of those who are employed for wages, especially in manual or industrial work.
Urban Poor: The segment of the urban population that is economically disadvantaged and often struggles to meet basic needs.
Peasants: Farmers of low social status who own or rent a small piece of land for cultivation.
Serfdom: The status of many peasants under feudalism, specifically relating to the condition of being bound to a lord's land and subject to his control.
Rural-Urban Migration: The movement of people from the countryside to cities, typically in search of better economic opportunities.
Deserving vs. Undeserving Poor: A distinction made primarily by social reformers about who is worthy of assistance or charity, often criticizing those they deemed to be poor due to laziness.
English Poor Law of 1601: Legislation in England aimed at reducing poverty by enforcing charity and helping the needy.
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