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Questions and Answers
What was a significant outcome of the Portuguese opening direct maritime links with India in 1498?
What innovation by the Dutch contributed to their dominance in Baltic trade?
What was the role of Genoese bankers in the Spanish Empire?
What was a characteristic of the Atlantic revolution in terms of medieval commerce?
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What was the impact of the Dutch fluitschip design on European trade?
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What was the percentage of Hanseatic ships in the maritime trade in the 15th century?
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Which century was marked by the decline of Hanseatic and Italian cities?
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What was the result of the intensification of exchanges within the continent during the 16th century?
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Which region became a principal supplier of livestock to Austria, southern Germany, and northern Italy from around 1520?
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What was the effect of the Atlantic revolution on the older maritime trade exchanges?
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Study Notes
The "Atlantic Revolution" and Trade Routes
- The "Atlantic Revolution" refers to the redirection of trade routes following the great geographic discoveries of the 15th century.
- The revolution built upon existing medieval commerce routes, rather than replacing them.
- Italian ports, such as Venice and Genoa, dominated trade with the Middle East and supplied Europe with Eastern wares and spices during the Middle Ages.
- The Hanseatic League, a federation of German cities, controlled Baltic trade during the Middle Ages.
Impact of the Atlantic Revolution
- The Portuguese opening of direct maritime links with India in 1498 led to competition for Venice and Genoa from Atlantic ports like Lisbon and Antwerp.
- Venice responded to the competition and reached its commercial peak in the 16th century.
- Genoese bankers played a key role in financing Spain's overseas empire and military ventures in Europe.
- The Dutch introduced a new ship design (fluitschip) and new shipbuilding techniques, leading to a decrease in freight charges and a significant increase in the Dutch merchant marine.
Baltic Trade and Competition
- The number of ships passing through the Sound separating Denmark from Sweden increased from 795 in 1497 to 6,673 in 1597.
- The percentage of Hanseatic ships in the Baltic trade rose from around 20% to 23-25% over the same century.
- The English competed for a share in the Baltic trade, but remained behind the Dutch.
- Baltic trade was booming in absolute terms, but the Hanseatic and Italian cities became vulnerable to the economic downturn of the 17th century.
Prices and Inflation
- The intensification of exchanges within the continent led to the formation of large integrated markets for certain commodities.
- Price differences in wheat between European regions leveled out as the century progressed.
- Prices everywhere tended to fluctuate in the same direction, marking the emergence of a single integrated market in cereals.
- Certain regions, such as the Vistula basin, southern Poland, and Ruthenia, became specialized in wheat production and sold their harvests to distant consumers.
- Hungary emerged as a principal supplier of livestock to Austria, southern Germany, and northern Italy from around 1520.
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Description
The Atlantic Revolution's impact on trade routes and the rise of Northwestern Europe. How the Atlantic Revolution built upon medieval commerce lines and affected the dominance of Italian ports.
