write an essay on shifting of trade from Mediterranean to Atlantic
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Answer:
The Commercial Revolution consisted of the creation of a European economy based on trade, which began in the 11th century and lasted until it was succeeded by the Industrial Revolution in the mid-18th century. Beginning with the Crusades, Europeans rediscovered spices, silks, and other commodities rare in Europe. This development created a new desire for trade, and trade expanded in the second half of the Middle Ages (roughly 1000 to 1500 AD). Newly forming European states, through voyages of discovery, were looking for alternative trade routes in the 15th and 16th centuries, which allowed the European powers to build vast, new international trade networks. Nations also sought new sources of wealth and practiced mercantilism and colonialism. The Commercial Revolution is marked by an increase in general commerce, and in the growth of financial services such as banking, insurance and investing.
Explanation:
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Answer:
The Unmaking of the Mediterranean Trade Hegemony: International Trade Rivalry and the Commercial Revolution
Explanation:
The so-called "Commercial Revolution" of the seventeenth century is thought to have been caused by the geographical discoveries of the 1500's which opened markets in the New World and shifted locational advantage to the European North Atlantic. This paper examines the hypothesis that the rise of Holland and England and the decline of the Mediterranean were the result of competitive victories in the old European markets, not new-found opportunities in the West. By employing a pattern of competitive tactics in industry, best analyzed in terms of an imperfect competition model, the Northern competitors ousted traditional suppliers from the old market area and enjoyed a period of formative industrial growth long before colonial markets became important sources of demand.
Journal Information
The Journal of Economic History is devoted to the multidisciplinary study of history and economics, and is of interest not only to economic historians but to social and demographic historians, as well as economists in general. The journal has broad coverage, in terms of both methodology and geographic scope. Topics covered include money and banking, trade, manufacturing, technology, transportation, industrial organisation, labour, agriculture, servitude, demography, education, economic growth, and the role of government and regulation. In addition, an extensive book review section keeps readers informed about the latest work in economic history and related fields. Instructions for Contributors at Cambridge