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Commercial Revolution

Definition

The Commercial Revolution refers to the period of European economic expansion, colonialism, and mercantilism which lasted from approximately the late 13th century until the early 18th century. It was characterized by an increase in trade, exploration, and wealth accumulation.

Analogy

Think of the Commercial Revolution like a massive shopping mall opening up in a small town. Before it arrived, people were limited to local goods and services. But with this new mall (or in historical terms, new trade routes and colonies), they suddenly had access to products from all over the world.

Related terms

Mercantilism: An economic theory that trade generates wealth and is stimulated by the accumulation of profitable balances.

Colonialism: The policy or practice of acquiring full or partial political control over another country, occupying it with settlers, and exploiting it economically.

Exploration: The action of traveling in or through an unfamiliar area in order to learn about it.