The political and economic changes that occurred in medieval Europe, which later contributed to European colonization, included:
Political Changes:
- The rise of European monarchies: During the late medieval period, power began to consolidate in the hands of kings rather than local lords. This shift led to the formation of stronger centralized states that could finance and organize expansive overseas ventures.
- Changes in the balance of power in Europe: As monarchies grew stronger, competition among states intensified, prompting nations to seek new resources, trade routes, and colonies to enhance their power and wealth.
Economic Changes:
- A rebalance of economic power due to a human labor shortage: Following events such as the Black Death, which drastically reduced the population, there was a labor shortage that led to increased wages and a shift in economic power toward the working class. This surplus of wealth among the merchant class facilitated investments in exploration and colonization.
- The emergence of banks and financial systems: The development of banking and credit systems allowed for the financing of exploratory expeditions and trade missions. This financial infrastructure supported the rise of mercantilism, where countries sought to accumulate wealth through colonies.
These changes set the stage for the later European push for exploration and colonization in the 15th and 16th centuries, driven by the desire for resources, trade opportunities, and expanding influence.
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