Impacts of Commercial Revolution in the West
In what ways did the Commercial Revolution of the 16th centuary change the social structure of the west?
During the Commercial Revolution of the 16th century the West's social structure was altered by an increase in trade and price inflation, which subsequently led to the creation of a new working class.
The increase in trade during the commercial Revolution created a symbiotic relationship with the increasing involvement of merchants and markets that made new goods available to the European people. Soon enough Trading Companies were formed, as a result of inflation, and regional monopolies were granted to some; such as the Dutch East Indies Companies that dominated trade within islands of Indonesia. European merchants also brought back new managerial skill and banking agreements. The benefits trade provided gave the merchants respect they were formerly deprived of.
Excessive imports of gold and silver from Spain's colonies in Latin America, served in creating new wealth which provoked a protruding demand for products to sell; the high demand coupled with Western production inability to comply with such demands caused the price inflation. The price increase forced most peasants to sell their land, creating the proletariat class- people without land they could work off of. Proletariats were driven to become manufacturing workers or laborers on agricultural states. Some Proletariats traveled to the city, and a reputation of wandering poor begin to affect Western society, where a new tough attitude towards poverty arose.
Even though not everyone benefitted from the Commercial Revolution, for the most part prosperity followed many ordinary people and merchants of the 16th
During the Commercial Revolution of the 16th century the West's social structure was altered by an increase in trade and price inflation, which subsequently led to the creation of a new working class.
The increase in trade during the commercial Revolution created a symbiotic relationship with the increasing involvement of merchants and markets that made new goods available to the European people. Soon enough Trading Companies were formed, as a result of inflation, and regional monopolies were granted to some; such as the Dutch East Indies Companies that dominated trade within islands of Indonesia. European merchants also brought back new managerial skill and banking agreements. The benefits trade provided gave the merchants respect they were formerly deprived of.
Excessive imports of gold and silver from Spain's colonies in Latin America, served in creating new wealth which provoked a protruding demand for products to sell; the high demand coupled with Western production inability to comply with such demands caused the price inflation. The price increase forced most peasants to sell their land, creating the proletariat class- people without land they could work off of. Proletariats were driven to become manufacturing workers or laborers on agricultural states. Some Proletariats traveled to the city, and a reputation of wandering poor begin to affect Western society, where a new tough attitude towards poverty arose.
Even though not everyone benefitted from the Commercial Revolution, for the most part prosperity followed many ordinary people and merchants of the 16th