Commercial Revolution

The Commercial Revolution is a period of European economic expansion, colonialism, and mercantilism that lasts from approximately the 16th century until the early 18th century.

It is succeeded in the mid-18th century by the Industrial Revolution.

Beginning with the Crusades, Europeans had rediscovered spices, silks, and other commodities rare in Europe.

This development had created a new desire for trade, and trade has expanded in the second half of the Middle Ages.

European nations, through voyages of discovery, are seeking new trade routes in the 15th and 16th centuries, which allows the European powers to build vast, new international trade networks.

Nations also seek new sources of wealth.

To deal with this newfound wealth, new economic theories and practices are created.

Because of competing national interest, nations have 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 financial services such as banking, insurance, and investing.

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