Commercial Revolution
Post on 30-Oct-2014
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Discussion of the qualitative and quantitative changes in the European institutions that led to the commercial revolution
Transcript
Commercial RevolutionThe Growth of Trade (1450 – 1750)
A Look At the Changing
Institutions of European Trade
Improvements in Transportation
Rise of the Merchant Class
Urbanization
•Interdependent
•Trade and cities intertwined
Changing Legal Structure
•Laws equate to predictable action
•Reduces risk of trade and investment.
•Important for Capitalism
Bills of Exchange
Insurance
Taxation Over Confiscation
Economics Association without
Kinship
Double Entry
Bookkeeping
Moral System Suitable for Commerce
Mercantilist Partnership
Europe’s Political Division
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