Impact on Global Economies
The sudden increase in silver entering Europe caused prices to skyrocket, leading to economic problems and social unrest. At the same time, European countries saw silver as a sign of wealth and power, using it to boost their economies through mercantilist policies. In Asia, the influx of silver sparked big changes, like more trade, cities growing, and people changing how they buy things. This shift in precious metal trade changed the world’s economy and society, with long-lasting effects that lasted for hundreds of years.
The Flow of Silver| Class 12 History Notes
During the early modern era, the global flow of silver reshaped economies, societies, and cultures, leaving a profound historical impact. This article explores how the global flow of silver during the early modern era transformed economies, societies, and cultures worldwide.