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1701-1714: War of Spanish Succession
Involved major European powers fighting for control of Spain's leader after the death of King Charles II. Was ended by the Treaty of Utrecht and European borders were redrawn. This impacted trade routes greatly and influenced global trade by giving Britain the asiento. -
1730s: Enclosure Movement
England enclosed many common lands with fences. This transformed agriculture in England. Many small farmers were forced to move to cities to be able to afford to live. Marked the beginning a more market-oriented way of agriculture. This contributed to the Industrial Revolution and created a large urban working class. -
1750: Developement of the Cottage Industry
The cottage industry grew as merchants began to rely on rural families for textile production. This decentralized production model increased textile production and increased wages for rural families. Represents both continuity (domestic production) and change towards industrialization. -
1756-1763: Seven Years' War
This war between France and Britain reshaped colonial empires which greatly influenced mainland Europe. Britain's win over France in North America led to great economic growth for Britain through trade. Both nations faced financial strain as a result of the war but France faced much greater hardships due to losing much of their influence in the New World. -
1760s: Agricultural Revolution
New ways of farming such as crop rotation, selective breeding, and the seed drill revolutionized farming all over the world. These new ways increased food production and reduced famine. This led to great population growth which allowed the Industrial Revolution to take off. Marks a clear change from traditional farming to more modern methods. -
1765: Invention of the Spinning Jenny
The spinning jenny, invented by James Hargreaves, greatly improved textile production in Europe. It was a hand-powered multiple-spindle machine used for spinning wool or cotton. This accelerated the shift from manual labor to industrial production which laid the groundwork for the Industrial Revolution along with the increased population from the Agricultural Revolution. -
1776: Adam Smith's "The Wealth of Nations"
Adam Smith published "The Wealth of Nations" which promoted free-market capitalism and criticized mercantilism. The ideas from "The Wealth of Nations" greatly influenced economic policies across Europe and the new forming "United States of America." This signified a change in how economies were structured through government. -
1780s: Rise of Urbanization
Cities like Manchester in England expanded greatly due to the growth of industries like textiles and coal mining. This was mainly caused the Industrial Revolution. Urbanization changed how most people got money since more people were working in factories rather than on the farm. This shows a shift from rural to urban economies. -
1789: French Revolution
The French Revolution greatly changed France's social and economic systems, abolishing feudal privileges and altering who paid most of the taxes. This event showed the rest of the world that revolution against a tyrannical government was possible and could lead to an improved quality of life for common people. It was a catalyst for change across Europe and many independence movements. -
1799: The End of Guild Systems
Most guilds that controlled trades and crafts were declining by the late 18th century. This was due to the rise of market economies and the industrialization of many trades. This change allowed for more economic freedom and innovation. Many artisans were put out of work and had to find work in factories to make a living.