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Essay

Elizabethan Economics

Essay specific features

 

Issue:

History

 

Written by:

John J

 

Date added:

March 3, 2014

 

Level:

University

 

Grade:

B

 

No of pages / words:

5 / 1320

 

Was viewed:

6124 times

 

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Essay content:

The English economy grew even more rapidly: agriculture prospered because of the significant increase in demand for food, and London became the leading center of the international woolen cloth trade after Antwerp was sacked in 1576. The overall European money supply had grown rapidly as a result of the gold and silver being brought in by Spain from Latin America; the resulting inflation had proved good for capitalists because it lowered the cost of labor and debt...
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The great merchants had prospered mightily during this "Age of Exploration"--a prosperous London merchant could earn 2-3000 pounds a year, making him the financial equal of an aristocrat. The total volume of trade increased rapidly in the early 17th century, notably between England and the countries around the Baltic, the Mediterranean, India and the Americas During this period the upper middle and middle classes were visibly prospering...
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