HIST 1003 Lecture : Economic History 2 2 Notes
Document Summary
Discovery transforms the world(the eurocentric world system: general background changes, demographic changes to ca. Important because the society depends heavily on human labor, the king likes to have lots of young men to draft: monetarization of the economy, more bullion for coins. Silesia, then post 1560, the americas: new credit instruments, government demand for taxes paid in money, logic of market and desire to put spice into life(important because set more things into monetary trade. Foreground changes: the price revolution , 100-400% inflation over the century 400% in iberian peninsula(abundant american silver chases relaticely scarce goods, prices in silver rise; ca. It accerlerated the price revolution in spain and mediterranian, opening the differential in favor of n. w. Europe, lesding to the decline of the italian center: produced wealth, to fight wars of religion, to fund arts, the economic crisis, ca.
