AP World History: Modern
The Commercial Revolution refers to the period of European economic expansion, colonialism, and mercantilism which lasted from approximately the late 13th century until the early 18th century. It was characterized by an increase in general commerce, and in the growth of financial services such as banking and investing.
congrats on reading the definition of Commercial Revolution. now let's actually learn it.
The Commercial Revolution refers to the period of European economic expansion, colonialism, and mercantilism that lasted from the late 11th century into the early 18th century. It was marked by an increase in trade activity due to factors like the Crusades, the discovery of new continents, and innovations in shipping and banking. Key figures during this era included merchant adventurers, monarchs who sponsored overseas expeditions, and bankers who developed new forms of financial instruments.
The Commercial Revolution had profound effects on the global economy, leading to increased wealth for European nations through trade with Asia, Africa, and the Americas. It spurred the growth of a capitalist economy based on investment and profit. Additionally, it facilitated the rise of powerful nation-states equipped with professional armies and bureaucracies. The changes in economic practices also laid foundations for the Industrial Revolution by creating a more interconnected world driven by commerce and competition for resources.