The Commercial Revolution

The Commercial Revolution

A typical banker in the 16th century.

A typical banker in the 16th century. ("The Moneylender and his Wife" by Quentin Massys, Musée du Louvre, Paris)

The Commercial Revolution refers to the change in business practices that happen in Europe after the Crusades. Businesses start selling stocks or shares in their companies. Modern banking practices like collecting interest on loans starts during this time period. Concepts like insurance start to become popular for companies.

Commercial Revolution = Business Revolution

Guilds Set Wages and Prices

Capitalism = market economy

 




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