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Elizabethan Economics

Elizabethan Economics

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Title: Elizabethan Economics

Essay Details:

Subject: History

Author: Edward P

Date: January 7, 2012

Level: University

Grade: A

Length: 5 / 1320

Essay text:

The English economy grew even more rapidly: agriculture prospered because of the significant increase in demand for food, and London became the leading center of the international woolen cloth trade after Antwerp was sacked in 1576. The overall European money supply had grown rapidly as a result of the gold and silver being brought in by Spain from Latin America; the resulting inflation had proved good for capitalists because it lowered the cost of labor and debt. The great merchants had prospered mightily during this "Age of Exploration"--a prosperous London merchant could earn 2-3000 pounds a year, making him the financial equal of an aristocrat...

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