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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 16th 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 b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inflation
In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). 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 CPI inflation is deflation, a 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. Changes in inflation are widely attributed to fluctuations in Real versus nominal value (economics), real demand for goods and services (also known as demand shocks, including changes in fiscal policy, fiscal or monetary policy), changes in available supplies such as during energy crisis, energy crises (also known as supply shocks), or changes in inflation expectations, which may be self-fulfilling. Moderat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purchasing Power
Purchasing power refers to the amount of products and services available for purchase with a certain currency unit. For example, if you took one unit of cash to a store in the 1950s, you could buy more products than you could now, showing that the currency had more purchasing power back then. If one's income remains constant but prices rise, their purchasing power decreases. Inflation does not always result in decreased purchasing power, especially if income exceeds price levels. A larger real income means more purchasing power, as it corresponds to the income itself. 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 money in the secondary market for the purpose of international Balance transfer, transfer of payment for goods and services. Scottish ec ... [...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 that was founded in 1600 and dissolved in 1874. It was formed to Indian Ocean trade, trade in the Indian Ocean region, initially with the East Indies (South Asia and Southeast Asia), and later with East Asia. The company gained Company rule in India, control of large parts of the Indian subcontinent and British Hong Kong, Hong Kong. At its peak, the company was the largest corporation in the world by various measures and 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 certain times. Originally Chartered company, 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 during the mid-1700s and early 1800s, particularly in basic commodities including cotton, silk, indigo dye, sugar, salt, spices, Potass ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dutch East India Company
The United East India Company ( ; VOC ), commonly known as the Dutch East India Company, was a chartered company, chartered trading company and one of the first joint-stock companies in the world. Established on 20 March 1602 by the States General of the Netherlands amalgamating Voorcompagnie, existing companies, it was granted a 21-year monopoly to carry out trade activities in Asia. Shares in the company could be purchased by any citizen of the Dutch Republic and subsequently bought and sold in open-air secondary markets (one of which became the Amsterdam Stock Exchange). The company possessed quasi-governmental powers, including the ability to wage war, imprison and execute convicts, negotiate treaties, strike Coinage of the Dutch East India Company, its own coins, and establish colonies. Also, because it traded across multiple colonies and countries from both the East and the West, the VOC is sometimes considered to have been the world's first multinational corporation. St ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Casa De Contratación
The ''Casa de Contratación'' (, House of Trade) or ''Casa de la Contratación de las Indias'' ("House of Trade of the Indies") was established by the Crown of Castile, in 1503 in the port of Seville (and transferred to Cádiz in 1717) as a crown agency for the Spanish Empire. It functioned until 1790, when it was abolished in a government reorganization. Before the establishment of the Council of the Indies in 1524, the Casa de Contratación had broad powers over overseas matters, especially financial matters concerning trade and legal disputes arising from it. It also was responsible for the licensing of emigrants, training of pilots, creation of maps and charters, probate of estates of Spaniards dying overseas. Its official name was ''La Casa y Audiencia de Indias''. Establishment Unlike the later East India Company, East India Companies, chartered companies established by the Dutch Empire, Dutch, British Empire, English, and others, the ''Casa'' collected all colonial taxe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mercury (element)
Mercury is a chemical element; it has Symbol (chemistry), symbol Hg and atomic number 80. It is commonly known as quicksilver. A Heavy metal element, heavy, silvery d-block 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. Exposure to mercury and mercury-containing organic compounds is toxic to the nervous system, immune system and kidneys of humans and other animals; mercury poisoning can result from exposure to water-soluble forms of mercury (such as mercuric chloride or methylmercury) either directly or through mechanisms of biomagnification. Mercu ... [...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. It is said that revolutionary hero Simon Bolívar once waved a flag from the top of this monumental mountain in a historic moment that symbolized the founding of a new nation. Just a year later, congress decided to change the colors to yellow-red-green and include a ... [...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 Potosí Department, Department of Potosí in Bolivia. It is one of the list of highest cities in the world, highest cities in the world at a nominal 4,067 m (13,343 ft). For centuries, it was the location of National Mint of Bolivia, 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 Rico, 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 City, Guanajuato ... [...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 Mexico, 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 stylish 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 o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Guanajuato City
Guanajuato (, Otomi language, Otomi: ) is a municipalities of Mexico, municipality in central Mexico and the capital of the Guanajuato, State of Guanajuato. It is part of the macroregion of the Bajío. It is located 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. Its mines were among the most important during the European colonization of America (along with Zacatecas (city), Zacatecas also in Mexico, Potosí in Bolivia and Ouro Preto in Brazil). One of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zacatecas City
Zacatecas () is the principal city within the municipalities of Mexico, municipality in Mexico of the same name, and the capital 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 (1914), 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 architecture, 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
