The Price Revolution As The Main Drive Behind The Development Of Capitalism In The Sixteenth Century
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In western Europe there was a price revolution. It is a term used in between the 15th and 17th century dealing with gold and silver. Europeans began growing their culture and nobility through out the world. They have discovered the new world.
Price revolution was an incoming of gold but more of silver. Europe made an inflationary economic climate. It was caused by the inflation. It had a long period of stable prices. Stated in the penguin dictionary, “The Price Revolution used to be thought of as the main drive behind the development of capitalism in the sixteenth century. According to this view, entrepreneurs enjoyed increased profit margins as the price of goods rose ahead of wages and rents, which were
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