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Price Revolution
The Price Revolution, sometimes known as the Spanish Price Revolution, was a series of economic events that occurred between the second half of the 15th century and the first half of the 17th century, and most specifically linked to the high rate of inflation that occurred during this period across Western Europe. Prices rose on average roughly sixfold over 150 years. This level of inflation amounts to 1.2% per year compounded, a relatively low inflation rate for modern-day standards, but rather high given the monetary policy in place in the 16th century. Generally it is thought that this high inflation was caused by the large influx of gold and silver from the Spanish treasure fleet from the New World; including Mexico, Peru, Bolivia and the rest of the Spanish Empire. Specie flowed through Spain increasing its prices and those of allied European countries (e.g., the imperial territories of Charles V). Wealth then spread to the rest of Western Europe as a result of the Spanish ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the general price level of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index. As prices do not all increase at the same rate, the consumer price index (CPI) is often used for this purpose. The employment cost index is also used for wages in the United States. Most economists agree that high levels of inflation as well as hyperinflation—which have severely disruptive effects on the real economy—are caused by persistent excessive growth in the money supply. Views on low to moderate rates of inflation are more varied. Low or moderate inflation may be attri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purchasing Power
Purchasing power is the amount of goods and services that can be purchased with a unit of currency. For example, if one had taken one unit of currency to a store in the 1950s, it would have been possible to buy a greater number of items than would be the case today, indicating that the currency had a greater purchasing power in the 1950s. If one's monetary income stays the same, but the price level increases, the purchasing power of that income falls. Inflation does not ''always'' imply falling purchasing power of one's money income since the latter may rise faster than the price level. A higher real income means a higher purchasing power since real income refers to the income adjusted for inflation. Traditionally, the purchasing power of money depended heavily upon the local value of gold and silver, but was also made subject to the availability and demand of certain goods on the market. Most modern fiat currencies, like US dollars, are traded against each other and commodity mon ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
East India Company
The East India Company (EIC) was an English, and later British, joint-stock company founded in 1600 and dissolved in 1874. It was formed to trade in the Indian Ocean region, initially with the East Indies (the Indian subcontinent and Southeast Asia), and later with East Asia. The company seized control of large parts of the Indian subcontinent, colonised parts of Southeast Asia and Hong Kong. At its peak, the company was the largest corporation in the world. The EIC had its own armed forces in the form of the company's three Presidency armies, totalling about 260,000 soldiers, twice the size of the British army at the time. The operations of the company had a profound effect on the global balance of trade, almost single-handedly reversing the trend of eastward drain of Western bullion, seen since Roman times. Originally chartered as the "Governor and Company of Merchants of London Trading into the East-Indies", the company rose to account for half of the world's trade duri ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dutch East India Company
The United East India Company ( nl, Verenigde Oostindische Compagnie, the VOC) was a chartered company established on the 20th March 1602 by the States General of the Netherlands amalgamating existing companies into the first joint-stock company in the world, granting it a 21-year monopoly to carry out trade activities in Asia. Shares in the company could be bought by any resident of the United Provinces and then subsequently bought and sold in open-air secondary markets (one of which became the Amsterdam Stock Exchange). It is sometimes considered to have been the first multinational corporation. It was a powerful company, possessing quasi-governmental powers, including the ability to wage war, imprison and execute convicts, negotiate treaties, strike its own coins, and establish colonies. They are also known for their international slave trade. Statistically, the VOC eclipsed all of its rivals in the Asia trade. Between 1602 and 1796 the VOC sent almost a million Eur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mercury (element)
Mercury is a chemical element with the symbol Hg and atomic number 80. It is also known as quicksilver and was formerly named hydrargyrum ( ) from the Greek words, ''hydor'' (water) and ''argyros'' (silver). A heavy, silvery d-block A block of the periodic table is a set of elements unified by the atomic orbitals their valence electrons or vacancies lie in. The term appears to have been first used by Charles Janet. Each block is named after its characteristic orbital: s-blo ... element, mercury is the only metallic element that is known to be liquid at standard temperature and pressure; the only other element that is liquid under these conditions is the halogen bromine, though metals such as caesium, gallium, and rubidium melt just above room temperature. Mercury occurs in deposits throughout the world mostly as cinnabar (mercuric sulfide). The red pigment vermilion is obtained by Mill (grinding), grinding natural cinnabar or synthetic mercuric sulfide. Mercury is used in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cerro Rico
Cerro Rico (Spanish for "Rich Mountain"), Cerro Potosí ("Potosí Mountain") or Sumaq Urqu (Quechuan languages, Quechua ''sumaq'' "beautiful, good, pleasant", ''urqu'' "mountain", "beautiful (good or pleasant) mountain"), is a mountain in the Andes near the Bolivian city of Potosí. Cerro Rico, which is popularly conceived of as being "made of" silver ore, is famous for providing vast quantities of silver for the Spanish Empire, most of which was shipped to metropolitan Spain. It is estimated that eighty-five percent of the silver produced in the central Andes during this time came from Cerro Rico. As a result of mining operations in the mountain, the city of Potosí became one of the largest cities in the New World. History The Cerro Rico de Potosí was the richest source of silver in the history of mankind. The extraction of mineral ores in Cerro Rico de Potosí began in 1545 by the Spanish Empire. Between the 16th and 18th century, 80% of the world's silver supply came out of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Potosí
Potosí, known as Villa Imperial de Potosí in the colonial period, is the capital city and a municipality of the Department of Potosí in Bolivia. It is one of the highest cities in the world at a nominal . For centuries, it was the location of the Spanish colonial silver mint. A considerable amount of the city's colonial architecture has been preserved in the historic center of the city, which - along with the globally important Cerro Rico de Potosí - are part of a designated UNESCO World Heritage Site. Potosí lies at the foot of the ''Cerro de Potosí'' —sometimes referred to as the ''Cerro Rico'' ("rich mountain")— a mountain popularly conceived of as being "made of" silver ore that dominates the city. The Cerro Rico is the reason for Potosí's historical importance since it was the major supply of silver for the Spanish Empire until Guanajuato in Mexico surpassed it in the 18th century. The silver was taken by llama and mule train to the Pacific coast, shipped north ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxco
Taxco de Alarcón (; usually referred to as simply Taxco) is a small city and administrative center of Taxco de Alarcón Municipality located in the Mexican state of Guerrero. Taxco is located in the north-central part of the state, from the city of Iguala, from the state capital of Chilpancingo and southwest of Mexico City. The city is heavily associated with silver, both with the mining of it and other metals and for the crafting of it into jewelry, silverware and other items. Today, mining is no longer a mainstay of the city's economy. The city's reputation for silverwork, along with its picturesque homes and surrounding landscapes, have made tourism the main economic activity. History The name Taxco is most likely derived from the Nahuatl place name ''Tlachco'', which means "place of the ballgame". However, one interpretation has the name coming from the word ''tatzco'' which means "where the father of the water is," due to the high waterfall near the town center on Atat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guanajuato City
Guanajuato () is a city and municipal seat of the municipality of Guanajuato in central Mexico and the capital of the state of the same name. It is part of the macroregion of the Bajío. It is in a narrow valley, which makes its streets narrow and winding. Most are alleys that cars cannot pass through, and some are long sets of stairs up the mountainsides. Many of the city's thoroughfares are partially or fully underground. The historic center has numerous small plazas and colonial-era mansions, churches, and civil constructions built using pink or green sandstone. The city historic center and the adjacent mines were proclaimed a World Heritage Site by UNESCO in 1988. The growth of Guanajuato resulted from the abundantly available minerals in the mountains surrounding it. The mines were so rich that the city was one of the most influential during the colonial period. One of the mines, La Valenciana, accounted for two-thirds of the world's silver production at the height of its pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zacatecas City
Zacatecas () is the principal city within the municipality in Mexico of the same name, and the capital and the largest city of the state of Zacatecas. Located in north-central Mexico, the city had its start as a Spanish mining camp in the mid-16th century. Native Americans had already known about the area's rich deposits of silver and other minerals. Due to the wealth that the mines provided, Zacatecas quickly became one of the most important mining cities in New Spain. The area saw battles during the turbulent 19th century, but the next major event was the Battle of Zacatecas during the Mexican Revolution when Francisco Villa captured the town, an event still celebrated every anniversary. Today, the colonial part of the city is a World Heritage Site, due to the Baroque and other structures built during its mining days. Mining still remains an important industry. The name Zacatecas is derived from the Zacateco people and has its roots in Nahuatl. The name means "people of the g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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