Economy and Finance Mind-Map
- Created by: evaludlow
- Created on: 06-07-20 11:06
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- ECONOMY and FINANCE
- Agriculture
- Population Growth
- increasing
- less plague
- an increasing population increased demand
- this led to the development of more advanced farming terchniques
- New Methods and New Crops
- Clover: increased Nitrogen levels in fields
- artichokes and asparagus
- these new crops had an imact on the lives of the rich but not the poor
- variation in diet
- Increasing output
- in the 1640s, Britain was the 2nd highest argicultural producer in Europe
- Enclosures
- made land more private
- good for rich landowners, bad for the poor
- made land more private
- Water Meadows
- light flooding of fields to prevent frost
- grew grass earlier
- more livestock
- 330,000, 1600-1700
- more livestock
- by diverting rivers/streams
- grew grass earlier
- light flooding of fields to prevent frost
- Farming Techniques
- increase in production of crops for industry
- increased literacy allowed for knowledge to be shared
- new techniques brough in by dutch immigrants
- National Markets
- specialised farming
- farming specific to geographical conditions
- north: pastoral; south: arable
- farming specific to geographical conditions
- better roads and transport
- Turnpike Act 1663
- Stagecoach and water transport
- canal and coastal
- London Markets
- didn't dominate trade until the 17th and 18th centuries
- not in Scotland or Ireland
- specialised farming
- Employment Growth
- domestic system
- population growth
- enclosure forced small free holders to become farm labourers
- inflation decreased wages
- Settlement Act (1662) increased temporary labour
- 7 year apprenticeships led to job securitu
- Capital Investment
- farmers needed investments to allow them to experiment with new techniques
- investments given by gentry or aristocracy
- 'investing in large scale modernisation
- farmers needed investments to allow them to experiment with new techniques
- the increase in production made land owners richer
- it made tennaant farming more profitable
- 'investing in large scale modernisation
- good for large farms
- helped by delfation: everything was cheaper
- led to the emergence of 'superfarms
- most popular regarding wheat and livestock
- Transition from Feudalism to Capitalism
- rich land owners investing for profit
- investments given by gentry or aristocracy
- 'investing in large scale modernisation
- the increase in production made land owners richer
- it made tennaant farming more profitable
- 'investing in large scale modernisation
- investments given by gentry or aristocracy
- was the new tennant farm system any different from feudalism?
- rich land owners investing for profit
- IMPACT ON THE ECOMOMY
- no need to outsource for food
- could trade abroad
- national markets helped the national economy
- Population Growth
- Domestic Trade Patterns
- Changing Cloth Trade
- worth £1.5milion in the 1660s
- 74% of exports in 1660
- Industry value increased 15 times
- immigration and populatin growth
- New Draperies
- Changing Cloth Trade
- worth £1.5milion in the 1660s
- 74% of exports in 1660
- Industry value increased 15 times
- immigration and populatin growth
- better fabric meant there was a higher demand,
- especially from abroad
- linen, cotton, silk
- East Anglia
- Changing Cloth Trade
- Protestant Refugees
- French Hugenots
- silversmiths
- watchmakers
- gardeners
- weavers
- more workers = more money
- Dutch Immigrants
- v.skilled
- French Hugenots
- Growth of London
- 1650: largest city in Europe
- population: 400,000 - 575,000
- base of banking and insurance
- base fof EIC, allowed for networking
- importance in world trade
- Banking and Insurance
- more employment
- capital investment
- based in London
- skilled workers went to London
- Growth of London
- 1650: largest city in Europe
- population: 400,000 - 575,000
- base of banking and insurance
- base fof EIC, allowed for networking
- importance in world trade
- Growth of London
- Changing Cloth Trade
- Imperial Expansion
- North America and Jamaica
- tobacco
- cash crop
- very profitable
- cash crop
- taxed goods
- very profitable
- tobacco
- Navagation Acts
- 1651
- English ships with an a 50%+ English crew
- 1660
- tied up loose ends and loopholes
- banned exports on non-English ships
- monopolised certain goods
- banned exports on non-English ships
- tied up loose ends and loopholes
- 1651
- Mercantilism
- restricting trade between colonies
- gave England more wealth and power
- self sufficient economy
- Anglo-Dutch Rivalry
- EAST: spice trade
- WEST: American colonies and cloth trade
- Wars
- 1652-54
- 1665-57
- 1672-74
- strength of the navy
- East India Company
- est. 1600
- trade in
- saltpetre
- pepper
- calico
- tea
- power climaxed after the fall of the Muhgal empire in
- Triangular Trade
- tobcco and sugar plantaions worked by African slaves
- good geographical placement
- Bristol case studies
- VERY profitable
- North America and Jamaica
- Agriculture
- Triangular Trade
- tobcco and sugar plantaions worked by African slaves
- good geographical placement
- Bristol case studies
- VERY profitable
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