Concept

Commercial Revolution

Summary
In European history, the Commercial Revolution saw the development of a European economy – based on trade – which began in the 11th century AD and operated until the advent of the Industrial Revolution in the mid-18th century. Beginning 1100 with the Crusades, Europeans rediscovered spices, silks, and other commodities then rare in Europe. Consumer demand fostered more trade, and trade expanded in the second half of the Middle Ages (roughly 1000 to 1500 AD). Newly-forming European states, through voyages of discovery, investigated alternative trade routes in the 15th and 16th centuries, which allowed European powers to build vast, new international-trade networks. Nations also sought new sources of wealth and practiced mercantilism and colonialism. The Commercial Revolution is marked by an increase in general commerce, and in the growth of financial services such as banking, insurance and investing. Origins of the Commercial Revolution The term itself was used by Karl P
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