Economic Impacts Of The Commercial Revolution

From 16th century to early 18th century, Europe came into a period known as the Commercial Revolution. It was during this time that developments such as economic expansion, colonialism and mercantilism fueled this revolution to increase the world power of the colonial empires within Europe. Developments in the late middle ages such as the Crusades, the emergence of a merchant class, the creation of strong central monarchies and even the Renaissance and Age of Discovery impacted the Commercial Revolution.
During the Commercial Revolution, Europe experienced a period of huge economic expansion. This occurred when Europe discovered and colonized the Americas. It was during this time that trade routes quickly commenced between the colonies in the New World and Europe. The Commercial Revolution revolutionized Europe and converted it from a local franchise to a global one. Due to their increase in trade and expansion, they had to find a method of handling all the income and loans, especially when it pertained to other countries, so they created more banks to accommodate these changes. The Commercial Revolution was stemmed from European nations searching for new …show more content…
This period of exploration increased the Europeans interaction with nations all around the world. With the discovery of new continents and new trading routes, Europeans discovered better trading routes and made strong allies. Not only did they find better routes to import spices and cloth but also the Renaissance brought upon a period of great demand for new trading goods. Since ships had the opportunity to travel further into the continent, navigation and maps were much more advanced and clear. This allowed the Commercial Revolution to spread across several continents at a time and greatly impact the European monarchy and all those that partook in the economic