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The general effect was a decline in prices throughout the Western world, due to a scarcity of gold and silver specie. [6] Britain had advanced its industrial capacity to fully meet its wartime demands, but post-war continental Europe was temporarily too devastated to absorb Britain's surplus manufactured goods.
The Glorious Revolution [a], also known as The Revolution of 1688, was the deposition of James II and VII in November 1688. He was replaced by his daughter Mary II and her Dutch husband, William III of Orange , a nephew of James who thereby had an interest to the throne irrespective of his marriage to Mary, his first cousin.
During the Russian Revolution of 1905 a coalition of anti-government groups in Petrograd issued a manifesto calling for mass tax resistance and other economic non-cooperation against Russia's czarist government. It read, in part, "There is only one way out: to overthrow the government, to deprive it of its last strength.
The American Revolution was the first of the "Atlantic Revolutions": followed most notably by the French Revolution, the Haitian Revolution, and the Latin American wars of independence. Aftershocks contributed to rebellions in Ireland , the Polish–Lithuanian Commonwealth , and the Netherlands.
The industrial revolution led to mass urbanisation, especially in Northern England. In period loosely dated from the 1770s to the 1820s, Britain experienced an accelerated process of economic change that transformed a largely agrarian economy into the world's first industrial economy.
After the Peace of Westphalia in 1648, Europe's borders were largely stable. 1708 map by Herman Moll.. International relations from 1648 to 1814 covers the major interactions of the nations of Europe, as well as the other continents, with emphasis on diplomacy, warfare, migration, and cultural interactions, from the Peace of Westphalia to the Congress of Vienna.
Economic institutions also determine the distribution of resources for the future. This framework is time-dependent, as today's institutions determine tomorrow's economic growth and institutions. For example, before the Glorious Revolution, political power in Europe, particularly in England, was concentrated in the hands of the monarch.
The post-Napoleonic Depression was an economic depression in Europe and the United States after the end of the Napoleonic Wars in 1815. In England and Wales, an agricultural depression led to the passage of the Corn Laws (which were to polarize British politics for the next three decades), and placed great strain on the system of poor relief inherited from Elizabethan times.