Early Modern Age: Economic and Social Transformations
The Early Modern Age
The Early Modern Age began in 1453 with the Fall of Constantinople and ended with the French Revolution in 1789.
Economic Transformation
- Increased agricultural production: Increase in the amount of land under cultivation. There were no technological advances at this time, and the three-field system was maintained. This system consisted of dividing the area of cultivated land into three sections and rotating the crops each year. One section was left uncultivated for the land to rest and recover nutrients. The main crops were cereals. Agriculture and livestock farming continued to be the main source of economic activity.
- Intensified commercial activity: The increase in agricultural production resulted in a surplus in production, that is, an excess of food produced. The surplus products were sold in the city markets. Merchants or traders travelled in search of new markets, establishing trade routes.
- The expansion of craftsmanship: Products were made in workshops, which were controlled by associations called guilds. Products were also made in people’s homes, and the domestic system was created. Merchants provided the families with the tools and raw materials to make the products.
- Due to the voyages of exploration to new lands, new products were brought to Europe. These included precious metals, foods, and spices.
- The development of mercantile capitalism: An economic system in which capital belonged to private owners, generally members of the bourgeoisie (middle class), that created trading companies to generate profits.
- Providing loans: The Medici in Florence and the Fugger family in Germany were among the most important banking families.
- Creating new forms of payment: The bill of exchange was created. Another authorized person, a quantity of money, on a specified date and at a specified place. With the bill of exchange, it was no longer necessary to travel with cash, which was unsafe.
Social Change
Economic prosperity resulted in an increase in the population and a reduction in the number of big epidemics; cities grew.
Rural society that developed in the Middle Ages, an urban society developed. This became one of the defining characteristics of the Early Modern Age.
Society continued to be divided into different social groups called classes.
- The privileged class consisted of the nobility and the clergy. They were a minority but owned most of the land. They were the only ones who had access to high political positions. They had numerous privileges: they didn’t pay taxes, and they were judged by special tribunals. They lived in their castles in the countryside or in palaces in the city.
- Unprivileged class, also called commoners, consisted of the majority of the population. They paid numerous taxes and did not have access to high political positions. This group was divided.
The peasants continued to form the largest group. They were serfs of the feudal lord or noble. They had to pay them rent or a part of their harvest. For this reason, many of them went to the cities where they had more freedom.
The bourgeoisie were the city inhabitants. They were not ruled by a feudal lord. This social group increased in number, became wealthier, and gained more political influence during the Early Modern Age. There were significant differences within this group:
- Upper bourgeoisie were important merchants, bankers, and officials. They lived in richly decorated urban palaces. Together with the city nobles, they formed the ruling class, the most powerful and influential group.
The petite bourgeoisie were small merchants, less important officials, all types of artisans, artists, servants, and laborers. They formed the largest group in the cities. They lived in humble houses.
Some social groups protested for their rights. The most violent protests were carried out by the peasants. However, these revolts were severely suppressed.
- Some of the upper bourgeoisie became wealthier than the nobles themselves. Families from the nobility began marrying into the richest families of the bourgeoisie.
- In turn, the bourgeoisie demanded nobility and the clergy not pay so many taxes and have access to all political positions.
- The monarchs supported either the bourgeoisie or the nobility. The bourgeoisie gradually gained more rights but did not reach the same level as the nobility until the end of the Early Modern Age.