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The Price Revolution, sometimes known as the Spanish Price Revolution, was a series of economic events that occurred between the second half of the 16th century and the first half of the 17th century, and most specifically linked to the high rate of inflation that occurred during this period across Western Europe. Prices rose on average roughly ...
The Great Wave: Price Revolutions and the Rhythm of History is a scholarly work by historian David Hackett Fischer, published in 1996 by Oxford University Press.. Hackett Fischer identified three complete monetary waves in European history, each consisting of a price revolution, featuring high inflation, followed by a war crisis, followed by a new equilibrium.
The commercial revolution continued, with Europeans developing mercantilism and European imports of luxury goods (notably spices and fine cloth [18]) from eastern and southern Asia switching from crossing Islamic territory in the present-day Middle East to passing the Cape of Good Hope.
There is disagreement over the nomenclature of the "great" divergence, as a clear point of beginning of a divergence is traditionally held to be the 16th or even the 15th century, with the Commercial Revolution and the origins of mercantilism and capitalism during the Renaissance and the Age of Discovery, the rise of the European colonial ...
The author, only 23 years old at the time, started with the history of Italian coinage, going back to the Greeks and Romans. Discarding the contemporary view of the origin of money through centrally planned contracts, Galiani proposes that money tends to arise spontaneously, through the need for trade, anticipating the Austrian school of economics by well over a century.
[1] Later the economic historian Roberto Sabatino Lopez, [2] used it to shift focus away from the English Industrial Revolution. [3] In his best-known book, The Commercial Revolution of the Middle Ages (1971, with numerous reprints), Lopez argued that the key contribution of the medieval period to European history was the creation of a ...
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Journal of European Economic History (2002): 9+ online. Gordon, Peter. The Silver Way: China, Spanish America and the Birth of Globalisation, 1565-1815 (Penguin 2017), 100pp excerpt; Hung, Ho-fung. "Imperial China and capitalist Europe in the eighteenth-century global economy." Review (Fernand Braudel Center) 24#4 (2001): 473–513. online