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Acts of Union
The Acts of Union were 2 acts enacted by the English Parliament. It essentially united the previously separated Britain and Scotland, creating the United Kingdom. With these acts, they were also economically joined by establishing a unified market and currency for the United Kingdom. The Acts of Union united the people of Britain and Scotland, leading to a heightened sense of pride in their newly unified nation. -
Peace of Utrecht
The Peace of Utrecht ended the war that decided the successor to the Spanish throne. It established peace throughout Europe. It limited some of Spain and Frances trade rights, so they had to establish other ways of earning money. Because trading was in some cases unavailable, more banks were established to earn back the money lost in trading. -
Population Growth Rapidly Increases
After this point, population growth will rapidly increase. Cleanlier habits and higher birth rate were the major factors. New innovations in medicine and hygiene allowed for healthier, longer lives for Europeans. The bubonic plague, which had been incredibly devastating a few centuries prior, became increasingly rare. -
Industrial Revolution Starts
The Industrial Revolution was a period in time where the economy drastically changed. Prior to the Industrial Revolution, the economy favored agricultural ways of earning money. However, after the Industrial Revolution, the World changed forever. Industries were created, and many people who were previously able to self-sustain themselves now had to work for big businesses that mass-produced products that previously took much longer. -
Invention of Flying Shuttle
The invention of the Flying Shuttle enabled the weaving of textiles to become much easier and faster. During the Industrial Revolution, the need for new inventions like the Flying Shuttle greatly increased. Whole families would work together performing different tasks to create textiles. Innovations like the Flying Shuttle would have been used by big businesses to make the labor being done by employees more efficient. -
Enclosure Act
The Enclosure Act greatly affected the lives of the average European. Rural Europeans who previously owned land or worked for others who owned land were unable to do so. When the land was "enclosed", it was held by rich landowners who would no longer allow peasants to work on their land. This forced many to move to more urban areas to find work to support their family. -
Publishing of "The Wealth of Nations"
Adam Smith's publishing of "The Wealth of Nations" greatly increased the economies of nations around the world. He challenged the idea of mercantilism and instead introduced ideas similar to libertarianism and capitalism. He challenged the economic beliefs and ideas of people at the time. Many would later go on to use his ideas to justify their own. -
The Atlantic Slave Trade Peaks
The Atlantic Slave Trade was the large-scale trade of African slaves. It was incredibly profitable for both Europe and the United States. During the 1780s, it reached its peak. About 80,000 slaves were shipped across the Atlantic during this time. -
Treaty of Paris
The Treaty of Paris established stability and peace in Europe and the United States. It recognized the United States as being a powerful and economically stable nation. It allowed for more travel and trade, which greatly helped some economies. However, Britain struggled financially. They were in great debt and were struggling with the United States. -
French Revolution Starts
The French Revolution was an incredibly important revolution that inspired future revolutions. It caused great societal change by showing that lower classes could rise up against their leaders/upper classmen. It was something quite different at the time; it ended with the execution of the French monarch.