The political and economic changes that occurred in medieval Europe significantly contributed to the later era of European colonization.
Political Changes:
- Rise of European Monarchies: As feudalism declined, centralized monarchies began to rise, leading to stronger, more unified states. This consolidation of power facilitated the coordination of resources and efforts for overseas exploration and colonization.
- Changes in the Balance of Power: The decline of the feudal system and the emergence of nation-states prompted competitions for power, resources, and territory, motivating European countries to seek new lands for expansion.
Economic Changes:
- Increase in Trade: The revival of trade in the late Middle Ages, particularly after the Crusades, opened up new markets and created a demand for goods from Asia, leading to a desire for direct trade routes.
- Rebalancing of Economic Power: The human labor shortage caused by events like the Black Death led to increases in wages and a shift in economic power towards the working class. This created greater wealth among merchants and a rising middle class, fueling interest in exploration and investment in overseas ventures.
- Emergence of Banking and Loans: The growth of financial instruments and banking systems allowed monarchies and merchants to fund explorations. The establishment of banks made it easier to finance expeditions and sustain long-term undertakings necessary for colonization.
Overall, the combination of stronger political entities and an evolving economic landscape laid the groundwork for European nations to embark on exploration and eventual colonization of the Americas and other regions.