Commercial Revolution

The Commercial Revolution was a period of European economic expansion, colonialism, and mercantilism which lasted from approximately the sixteenth century until the early eighteenth century. Beginning with the Crusades, Europeans rediscovered spices, silks, and other commodities rare in Europe. This development created a new desire for trade, and trade expanded in the second half of the Middle Ages. European nations, through voyages of discovery, were looking for new trade routes in the fifteenth and sixteenth centuries, which allowed the European powers to build vast, new international trade networks. Nations also sought new sources of wealth. To deal with this new-found wealth, new economic theories and practices were created. Because of competing national interest, nations had the desire for increased world power through their colonial empires. The Commercial Revolution is marked by an increase in general commerce, and in the growth of non-manufacturing pursuits, such as banking, insurance, and investing.
Contents
1 Origins of the term
2 Time frame
3 Voyages of discover
3.1 Geopolitical factors
3.2 Monetary factors
3.3 Technological factors
3.4 Important people
4 Rise of the money economy
4.1 Inflation
4.2 Banks
4.3 Managing risk
4.3.1 Joint stock companies and stock exchanges
4.3.2 Insurance companie
4.4 Economic theory
4.4.1 Mercantilism
4.4.2 Free trade
5 Colonialism
5.1 Trade monopolies
5.2 Triangular Trade
6 Law