18th Century Economic Growth and the Rise of the Bourgeoisie

Growth of the Economy and Bourgeoisie

Economy and population expanded along the 18th century.

Population Growth

European population increased from 100 million people to 200 million in the last half of the 18th century. The factors that contributed to this population growth were:

• the increase of agricultural production.
• fewer epidemics.
• rise of the birth rate.
• the decrease of the death rate.

The population growth had several consequences:

• increase of the agricultural production.
• more consumers to buy all kind of goods.
• economic expansion.

The Development of Agriculture and Manufacturing

(economic expansions). Factors to increase agricultural production were:

• new areas were cultivated (pastures and forests were cleared out).
• New crops such as potatoes and corn were introduced.
• New techniques were implemented.

All these factors led to the Agricultural Revolution which started in England from 1750. To increase manufactured goods production, two new systems of production were introduced:

• the domestic system was implemented by giving raw materials and tools to the peasants who elaborated the items and sometimes they were assembled in entrepreneur's workshop.
• Factories to produce goods on a large scale. Factories were own by the state or by privately owned and specialized in producing luxury goods such as tapestries or glass. These new systems of production were introduced to escape the gilds' control.

An Increase in Capital and the Prospering Bourgeoisie

Prices increased along the 18th century due to the growing demand. The nobility lost its predominant economic role as their income came from manorial rents. On the contrary, the bourgeoisie became wealthier as they invested in more profitable businesses.

What Was Triangular Trade?

Colonial trade expanded during the 18th century. European countries exchanged manufactured goods for raw materials from the colonies. Coffee, tobacco, cotton and cocoa became more popular in Europe. Triangular trade was the type of commerce in the 18th century:

• slave trade from Africa to the Americas.
• Slaves worked in plantations to produce cotton, coffee or tobacco. These products were taken to Europe.
• Then European countries transformed the products into manufactured goods that were sent to the colonies.

Colonial trade produced high benefits. This aimed bourgeoisie to set up new business as well as the development of banks and commercial companies.