Growth is a modern phenomenon

From the crown englands merchant class was much

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Unformatted text preview: a free, wage- earning labor society Consolidated lands The role of the new economic classes: Landowners became wealthy due to opportunities for agricultural trade In port cities, a new merchant class appeared (that make money by trading) These two groups owed their wealth NOT to land grants or other handouts from the king, but from economic transactions; together they increased pressures for: Better information about markets, prices, etc. Protection from confiscatory taxation (base don land taxes and involves a lot of violence) For mercahnts: they want financial systems (deposit banking, insurance, credit) For landowners; “enclosure acts”, serfs kicked off manor. These made strips of land into ecnclosed field and CLOASED OFF COMMON LAND; land was allocated to some farmers in fixed- term lea...
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