Commercial RevolutionThe Growth of Trade (1450 – 1750)

A Look At the Changing

Institutions of European Trade

Improvements in Transportation

Rise of the Merchant Class

Urbanization

•Interdependent

•Trade and cities intertwined

Changing Legal Structure

•Laws equate to predictable action

•Reduces risk of trade and investment.

•Important for Capitalism

Bills of Exchange

Insurance

Taxation Over Confiscation

Economics Association without

Kinship

Double Entry

Bookkeeping

Moral System Suitable for Commerce

Mercantilist Partnership

Europe’s Political Division