כלכלת שוק עולה על הקרקע

More food from the same land

• The Agricultural Revolution 农业革命 raised productivity and increased the supply of food and other agricultural products.
• The importation and transplantation of agricultural products from the Americas contributed to an increase in the food supply in Europe.
• So unit 1's Columbian Exchange arrives here as a cause of European food supply — the same fact, put to work in a new argument.

Restrictions loosened

• Labour and trade in commodities were increasingly freed from traditional restrictions imposed by governments and corporate entities.
• Corporate entities here means guilds and chartered bodies, not modern companies.
• So the market grew partly by removal: fewer rules about who may work at what and who may sell where.

Related developments in a growing market economy; pathways varied by region

The putting-out system

• The putting-out system, or cottage industry 家庭手工业, expanded as increasing numbers of labourers in homes or workshops produced for markets through merchant intermediaries or workshop owners.
• Production is still domestic, and the market is not — which is the point.
• It is the step between the guild workshop of unit 1 and the factory of unit 6.

New financial practices

• The development of the market economy led to new financial practices and institutions.
• Early modern Europe developed a market economy that provided the foundation for its global role.
• The CED's second sentence is the unit's largest economic claim, and 3.4 supplies its global half.

Continuities and changes

• The objective is the continuities and changes in commercial and economic developments from 1648 to 1815.
• Change: higher yields, freer trade, the putting-out system, new financial institutions.
• Continuity: most production still domestic or agricultural, and unit 1's hierarchies of status intact.