Absolutism and Constitutionalism

Enclosure movements consolidated landholdings into fewer hands leading to an increased labor force for emerging industries.

New crop rotation techniques required skilled labor fostering an agrarian middle class with economic mobility.

The introduction of new machinery democratized farm ownership due to more affordable farming practices being adopted across Europe.

Selective breeding programs improved livestock quality creating specialized occupations within rural communities.

They greatly reduced maritime insurance costs through collective risk sharing among investors.

They promoted egalitarian wealth distribution by granting shares equally amongst all classes.

They monopolized artisanal industries leading to widespread guild unemployment.

They facilitated the raising of large amounts of capital for international trade ventures.

The abolition of serfdom across all of Europe.

The rise of capitalism and commercialization.

The decline of trade due to plague outbreaks.

The introduction of the Euro as a single currency.

1694

1685

1670

1703

It critiqued established institutions and traditional beliefs through satire.

It advocated for mercantilism as the best economic system.

It endorsed absolute monarchy over constitutional governance.

It argued in favor of a strict church-controlled society.

Nicolaus Copernicus

Galileo Galilei

Isaac Newton

Albert Einstein

It prohibited farming without royal permission.

It banned importation of corn entirely.

It raised the cost of imported grain.

It lowered tariffs on American wheat products.

Mercantilism contributed to cultural exchange rather than creating power imbalances.

It is viewed as a tool for exploiting colonized societies' resources and labor.

It facilitated mutual economic benefits between Europe and its colonies through trade.

The colonies experienced unprecedented prosperity due to increased trade links with Europe.

Intensified aristocratic control wealth resources focusing luxury item trades supplementing income amidst declining agrarian profits.

Stagnation technological progress leading protracted reliance artisan crafts local productivity instead mass production methods globalization trends.

Accelerated colonization efforts seeking raw materials compensating lack mechanized outputs within traditional craft sectors.

Greater emphasis maritime ventures exploring new markets redistribution goods compensate slower domestic growth rates.

Increased integration of the global economy through colonization and trade.

The decline of mercantilism as the dominant economic theory.

The rise of socialist economic theories.

A shift from agriculture to industrial production as the primary economic activity.