Discuss the commercial revolution of the high middle ages.

Commercial Revolution of The High Middle Ages
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Commercial Revolution of The High Middle Ages
The commercial revolution was characterized by an increase in commercial activities in the late Middle Ages. It was mainly stimulated by the exploration and voyages that were facilitated by Spain, England, and individual nations in Africa, Asia, as well as the New World. During the period, there was an increase in international trade, the appearance of chartered companies, as well as the acceptance of the principles of mercantilism. The commercial revolution was the major precursor of the Industrial Revolution, which occurred in the middle of the 18th century. As Europeans started to explore the world, they discovered valuable goods such as silks, spices, and certain commodities that were never available on the continent. The discovery led to the initiation of overseas trade, with expansion during the late years of the Middle Ages. Through exploration, novel trade routes were developed, and new sources of wealth were created for these nations. The commercial revolution led to an increase in trade between continents, with significant growth in commercial services that included investment, insurance, and banking.
The voyages initiated by European nations led to the development of new trade routes during the fifteenth and sixteenth century. As a result, major European powers created networks for trade with their international partners. The new types of wealth discovered led to the development of new theories in order to manage and allow proper trading approaches. There were also conflicting national interests, with a desire by each nation to maximize their power and influence in other nations around the globe. With these new developments, there was a subsequent creation of instruments that would aid and facilitate commercial activities. As overseas trade increased, a nation such as England expanded its fleet. The capitalistic economy rose, and there was a significant transition from an economy centered on the town to an economy centered on the nation. The means of production were also owned privately, and novel approaches in business such as investment were initiated in order to increase capital. The economy was centered on the nation because it never focused on a particular town or region.
The ideological perspectives of the Europeans are what led to the development of the commercial revolution. When they discovered new valuable commodities, they opted to initiated trade. They also continued to explore in order to discover new routes for facilitating trade. During their exploration, they discovered America, which enhanced the trade activit...