The Early Modern Economy - Introduction
3 important questions on The Early Modern Economy - Introduction
In what three sectors is economic activity divided? What sector was of primary concern for the early modern economy?
- For analytical purposes, economic activity is often divided into three sectors: agriculture, manufacture/industry and trade/services.
- For the most part, the early modern economy remained fundamentally agrarian.
What led to a large-scale increase in the intensity and geographical extent of trade?
- In the sixteenth and seventeenth centuries, however, there was a significant drift of production activities from the highly regulated towns into the countryside where proto-industrial manufacture could evolve beyond the reach of the guilds.
- At the same time, population growth, urbanization and European expansion prompted large-scale increases in the intensity and geographical extent of trade.
Where did industrial production develop?
Where particular mineral resources existed, more specific forms of industrial production developed: the availability of brine, for instance, might provide the basis for dyeing and bleaching wool which later become so fundamental to the chemical industry.
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