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Reverted edits by Rachela (talk) to last revision by DanH
The '''Commercial Revolution''' in [[European]] history was a shift in the quantity and type of commerce that occurred between about A.D. 1450 and 1700, setting the stage for the [[Industrial Revolution]]. Specifically, the Commercial Revolution consisted of the beginning of a money-based economy with private banks and trading organizations. It was supported by improvements in marine technology (ships) to travel the high seas more quickly and safely.
By the mid-1500s, Europeans had obtained control from Arabs of much of the trade with Asia, whereupon Asian goods flooded the European markets. Gold and silver then came from the [[New World]], increasing European wealth further.
The highest volume of shipping moved from [[Mediterranean]] to [[Atlantic]] ports and newly chartered companies were established. Modern tools of [[capitalism]] such as the "[[promissory note]]" (the basic document for a loan of money) arose.
[[Category:European History]]