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Europe

In the early century, inflation was such that prices were four times what they had been between 1525 and 1550. (Ref. 213 ) Three great powers contested for dominance – the Ottoman Empire, the Spanish Empire, and France, under Louis XIV and Richelieu. Each had a mass of about 17 million people. (Ref. 260 ) In spite of the presence of these great monarchies, there were still areas all over Europe from southern Italy to Scandinavia and from Scotland to Auvergne where primitive social enclaves persisted, with hundreds of dialects and local, semibarbaric, religious cults. Attempted control of these numerous pockets sapped the resources of the great powers, similar to the drain on the Roman Empire when it was ringed with barbarians. In addition, after about 1620 the entire continent suffered from food shortages as the population increased to about 118 million by 1648 and the result of this was often political instability. Even by 1640, rebellion was everywhere. Although this is often called the century of scientific revolution, this was completely irrelevant to the mass of Europeans as they squandered most of their energies in massive wars. During the whole of the period there were only seven years of peace in Europe. All of the people tended to revolt against the powers of princes and kings over their bodies and properties and to protest against taxation, interference with trade and arbitrary imprisonment. Over most of Europe the peasantry represented vast numbers of people and in one way or another they were almost always in revolt, with occasional open rebellion, as in Naples in 1647. In Orleans, out of an active population of almost 120,000 there were over 67,000 wage earners, but this did not signal great productivity. Many districts were over-populated with great numbers of unemployed. Vagrants were universally put under lock and key, usually in work-houses. (Ref. 292 )

The last quarter of the century saw the establishment of responsible parliamentary government in most areas. By 1700 the old north-south trade axis had swung almost 90~ and ran east-west from England-Holland to Saxony, Bohemia and Silesia. Population growth at the end of the century had been slowed not only by war and famine but also by plague, so that shortly after the turn of the century (1713) the population had dropped to about 102 million. (Ref. 68 , 147 , 8 , 131 ) Still, Europe remained in a favored position when compared to other civilization, particularly in regard to food. Europeans consumed great quantities of meat. Water-mills supplied the chief energy and were owned and supplied by the lord of the manor, while the peasants contributed their labor. The mill, which ground grain, was thus the essential tool of the manorial economy. Otherwise the 17th century civilization was one of wood and charcoal. Buildings, machines, wine-presses, plows and pumps were all made of wood, with a very minimum of metallic parts. Fortunately Europe was well-endowed with forests. Iron, although available, was still in short supply. (Ref. 260 ) Wigs and then powdered wigs came into fashion in this century despite initial objection by the church.

Questions & Answers

What are the factors that affect demand for a commodity
Florence Reply
differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
how will I do?
Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
t
WARKISA
hi guys good evening to all
Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
yes,thank you
Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
ok
Shukri
how do you save a country economic situation when it's falling apart
Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
thank you so much 👍 sir
Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
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Source:  OpenStax, A comprehensive outline of world history. OpenStax CNX. Nov 30, 2009 Download for free at http://cnx.org/content/col10595/1.3
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