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Especially afterthe North Sea region took over the role of the leading economic centre of Europe from the Mediterranean, which prior to this date, particularly in northern Italy, had been the most highly developed part of Europe.
Great Britain, together with the Low Countries, profited more in the long run from the expansion of trade in the Atlantic and Asia than the pioneers of this trade, Spain and Portugal, fundamentally because of the success of the mainly privately owned enterprises in these two Northern countries in contrast to the arguably less successful state-owned economic systems in Iberia.
The export of woollen products resulted in an economic upturn with products exported to mainland Europe. When the population recovered low wages and a land shortage returned. Historians in the early 20th century characterized the economic in terms of general decline, manorial reorganization, and agricultural contraction.
Later historians dropped those themes and stressed the transitions between medieval forms and Tudor progress. Inflation had a negative effect on the real wealth of most families. This was a period of significant change for the majority of the rural population, with manorial lords beginning the process of enclosure.
He described markets, ports, industries, buildings and transport links. He showed some small towns were expanding, through new commercial and industrial Economic slowdown in india 2012 essay, especially cloth manufacture. He found other towns in decline, and suggested that investment by entrepreneurs and benefactors had enabled some small towns to prosper.
Mostly privately owned companies traded with the colonies in the West indies, Northern America and India. Its members' main business was the export of cloth, especially white undyed woollen broadcloth.
This enabled them to import a large range of foreign goods. Medieval English wool trade Woollen cloth was the chief export and most important employer after agriculture. In the medieval period, raw wool had been exported, but now England had an industry, based on its 11 million sheep.
London and towns purchased wool from dealers, and send it to rural households where family labour turned it into cloth.
They washed the wool, carded it and spun it into thread, which was then turned into cloth on a loom. Export merchants, known as Merchant Adventurers, exported woollens into the Netherlands and Germany, as well as other lands.
The arrival of Huguenots from France brought in new skills that expanded the industry. A new company convinced Parliament to transfer to them the monopoly held by the old, well-established Company of Merchant Adventurers. Arguing that the export of unfinished cloth was much less profitable than the export of the finished product, the new company got Parliament to ban the export of unfinished cloth.
There was massive dislocation marketplace, as large unsold quantities built up, prices fell, and unemployment rose. Worst of all, the Dutch retaliated and refused to import any finished cloth from England.
Exports fell by a third. Quickly the ban was lifted, and the Merchant Adventurers got its monopoly back. However, the trade losses became permanent.
The rich ate meat—beef, pork, venison—and white bread, the poor ate coarse dark bread, with a bit of meat perhaps at Christmas.
Everyone drank ale—water was often too impure to drink. Fruits and vegetables were seldom eaten. Rich spices were used by the wealthy to offset the smells of old salted meat. Vegetables and fruits were not popular. The potato was not part of the diet.
The rich enjoyed desserts such as pastries, tarts, cakes, and crystallized fruit, and syrup. Entertaining a royal party for a few weeks could be ruinous to a nobleman.
Inns existed for travellers but restaurants were not known. Both the rich and the poor had diets with nutritional deficiency. The lack of vegetables and fruits in their diets caused a deficiency in vitamin C, sometimes resulting in scurvy.
Trade and industry flourished in the 16th century, making England more prosperous and improving the standard of living of the upper and middle classes.Disclaimer: This essay has been submitted by a student. This is not an example of the work written by our professional essay writers. You can view samples of our professional work here..
Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UK Essays. The extraordinarily hot and dry summer weather will cause severe crop shortfalls in Germany, according to experts' estimates.
Due to the adverse weather conditions, the crop outlook for European neighbouring countries, as well as other large food producers such as the USA or Australia, is quite poor, too. Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time.
It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP.. Growth is usually calculated in real terms - i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced.
Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP..
Growth is usually calculated in real terms - i.e., inflation-adjusted terms – to eliminate the distorting effect of inflation on the price of goods produced. As a follow-up to Tuesday’s post about the majority-minority public schools in Oslo, the following brief account reports the latest statistics on the cultural enrichment of schools in Austria.
Vienna is the most fully enriched location, and seems to be in roughly the same situation as Oslo. Many thanks to Hermes for the translation from webkandii.com The following summaries are posted ONLY when debates are RELEVANT to topics given in UPSC syllabus.
They are NOT posted daily.. Lok Sabha, Rajya Sabha and All India Radio Discussions – Summaries.
Rajya Sabha TV The Big Picture: India Pak Indus Matters.