История экономики. Революция цен в Западной Европе (самое важное)

Lecture notes, cheat sheets
Free library / Directory / Lecture notes, cheat sheets

История экономики. Революция цен в Западной Европе (самое важное)

Lecture notes, cheat sheets

Table of contents (expand)

17. Price revolution in Western Europe

One of the most significant economic consequences of the Great Geographical Discoveries was the "price revolution" in Western Europe.

"Price Revolution" - a period of a significant increase in commodity prices due to a fall in the value of precious metals, which perform the function of a universal equivalent.

The civilizations of Ancient America, developing independently, by the end of the XNUMXth - beginning of the XNUMXth century. reached a stage corresponding approximately to the level of state formations of the Ancient East. The civilizations of the Aztecs, Incas, Maya achieved a lot, but they were not familiar with the technical achievements of Babylon or Mesopotamia, they did not breed domestic animals. Copper, gold, silver were used by the natives of the New World for cult images or jewelry.

On the new continent, the Spanish conquistadors were interested in one thing - precious metals. Columbus's sailors saw thin gold plates and small ingots of gold among the inhabitants of Hispaniola. The Spaniards were terribly surprised that the natives had no idea about the value of gold. They gave it for a shard of glass, for a shard of a broken cup.

The conquistadors acted the same way everywhere. They took away all the gold that they could seize from the locals, and then forced them to work in quarries, mines, where the noble metal was mined. The civilizations of Mexico and Peru were simply plundered. Cheap gold and silver flowed to Spain and other European countries. Due to the powerful influx of gold and silver from the colonies, the amount of precious metal circulating in Europe increased in the XNUMXth century. four times. In turn, this contributed to the rise in prices.

Over the past half century, the prices of basic consumer goods have remained virtually stable over the long run. Their growth was 20-30% per century and was almost invisible to contemporaries. This phenomenon is explained by the limited and almost unchanged amount of gold and silver in Europe during the Middle Ages.

With the increase in the amount of gold, the value of the monetary unit fell. On average, the price increase was 1-2% per year. It proceeded unevenly and ambiguously for various commodity groups. Prices for industrial and agricultural products grew especially rapidly, by an average of 3-3 times, and for individual goods even by 5-5 times.

The "price revolution" in European countries was accompanied by a fall in real incomes. Wages have not kept pace with rising prices.

The feudal lords sought to compensate for the fall in prices by increasing taxes. The peasants, forced to pay increasingly large amounts of taxes to landowners, suffered losses. Peasant uprisings that swept across Europe were brutally suppressed.

When gold flowed into Europe from the New World, prices began to rise, and the feudal lords found themselves in a vice. Like everything in medieval life, the feudal rents and dues they received from their serfs were fixed and unchanging. But not commodity prices. Although more and more duties of serfs were transferred from natural to cash, prices rose so rapidly that the feudal lords could not pay their bills.

The price revolution helped to strengthen the position of merchants, burghers and farmers, since the prices of goods produced (imported) by them increased significantly.

In general, the price revolution did not undermine, but to a certain extent helped to strengthen the power of the military-feudal elites, contributed to the process of the emergence of national states with royal power at the head. Absolutism was established in many countries of Western Europe. During the period of mercantilism, absolutism contributed to the development of trade, manufactures, and then, at some stage, became an obstacle to the establishment of capitalist relations.

Authors: Zilbertova T.N., Takhtomysova D.A.

<< Back: Great geographical discoveries

>> Forward: Renaissance and Reformation

We recommend interesting articles Section Lecture notes, cheat sheets:

▪ normal physiology. Lecture notes

▪ Enterprise planning. Crib

▪ Pharmacology. Lecture notes

See other articles Section Lecture notes, cheat sheets.

Read and write useful comments on this article.

<< Back

Latest news of science and technology, new electronics:

The existence of an entropy rule for quantum entanglement has been proven 09.05.2024

Quantum mechanics continues to amaze us with its mysterious phenomena and unexpected discoveries. Recently, Bartosz Regula from the RIKEN Center for Quantum Computing and Ludovico Lamy from the University of Amsterdam presented a new discovery that concerns quantum entanglement and its relation to entropy. Quantum entanglement plays an important role in modern quantum information science and technology. However, the complexity of its structure makes understanding and managing it challenging. Regulus and Lamy's discovery shows that quantum entanglement follows an entropy rule similar to that for classical systems. This discovery opens new perspectives in the field of quantum information science and technology, deepening our understanding of quantum entanglement and its connection to thermodynamics. The results of the study indicate the possibility of reversibility of entanglement transformations, which could greatly simplify their use in various quantum technologies. Opening a new rule ... >>

Mini air conditioner Sony Reon Pocket 5 09.05.2024

Summer is a time for relaxation and travel, but often the heat can turn this time into an unbearable torment. Meet a new product from Sony - the Reon Pocket 5 mini-air conditioner, which promises to make summer more comfortable for its users. Sony has introduced a unique device - the Reon Pocket 5 mini-conditioner, which provides body cooling on hot days. With it, users can enjoy coolness anytime, anywhere by simply wearing it around their neck. This mini air conditioner is equipped with automatic adjustment of operating modes, as well as temperature and humidity sensors. Thanks to innovative technologies, Reon Pocket 5 adjusts its operation depending on the user's activity and environmental conditions. Users can easily adjust the temperature using a dedicated mobile app connected via Bluetooth. Additionally, specially designed T-shirts and shorts are available for convenience, to which a mini air conditioner can be attached. The device can oh ... >>

Energy from space for Starship 08.05.2024

Producing solar energy in space is becoming more feasible with the advent of new technologies and the development of space programs. The head of the startup Virtus Solis shared his vision of using SpaceX's Starship to create orbital power plants capable of powering the Earth. Startup Virtus Solis has unveiled an ambitious project to create orbital power plants using SpaceX's Starship. This idea could significantly change the field of solar energy production, making it more accessible and cheaper. The core of the startup's plan is to reduce the cost of launching satellites into space using Starship. This technological breakthrough is expected to make solar energy production in space more competitive with traditional energy sources. Virtual Solis plans to build large photovoltaic panels in orbit, using Starship to deliver the necessary equipment. However, one of the key challenges ... >>

Random news from the Archive

Eizo Re/Vue Pro Video Encoder 03.03.2016

Eizo has unveiled the Re/Vue Pro, a compact device designed for video encoding and streaming for mission-critical applications. More specifically, the Eizo Re/Vue Pro is designed for air traffic control systems. The advantages of Eizo Re / Vue Pro manufacturer include the presence of interfaces DVI and DisplayPort.

The DisplayPort interface supports resolutions up to 4K2K (4096 x 2160 pixels) at frame rates up to 60Hz. The DVI interface supports resolutions up to 2048 x 2160 pixels, also at frame rates up to 60 Hz. Encoding provides compression ratios from 8000:1 to 30000:1 to reduce storage requirements for video recording.

The high reliability required by the application of the product is achieved, among other things, by the presence of two Ethernet ports and the ability to connect two external power supplies. An API is available that includes decoding and streaming functions, as well as a Simple Network Management Protocol (SNMP) interface for remote configuration and diagnostics.

Device dimensions - 164 x 38 x 104 mm, weight - 369 g.

Other interesting news:

▪ Robot reinforces the slopes

▪ Artificial intelligence recognizes silent speech

▪ Sony to release zoom TV

▪ Gigabit Powerline - a chip for home networks through electrical wiring

▪ Identification by electronic activity of the brain

News feed of science and technology, new electronics

Interesting materials of the Free Technical Library:

▪ website section Television. Article selection

▪ article And he did not want to bless anything in all nature. Popular expression

▪ article What is Kevlar? Detailed answer

▪ article Working on a risograph. Standard instruction on labor protection

▪ article Mini probe on discrete elements. Encyclopedia of radio electronics and electrical engineering

▪ article Features of the design of modern tube ultrasonic frequencies. Encyclopedia of radio electronics and electrical engineering

Leave your comment on this article:

All languages of this page

Home page | Library | Articles | Website map | Site Reviews