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The new luxury of the 18th century meant a change in the living conditions of both rich and poor. Of primary importance was the separation of living quarters from the workshop or business. Up until this time merchants' and artisans' houses had the shop on the lower floor, the master's dwelling above and the workmen's or apprentices' rooms above that. (Ref. 260 ) Industrial activity was widespread so that there was not a town or City without its own looms, forges, brick or tile works or sawmill. In some areas there were huge concentrations of workers: 30,000 in the coal industry in Newcastle; 450,000 weavers in Languedoc; 1,500,000 textile workers in five northern French provinces. But commerce and its accompanying wealth were in the hands of but a few, 4 or 5 merchants in Seville, 8 or 9 in Le Mans and less than 1% of the population of Marseilles. Similarly, the nobility of Lombardy made up 1% of the population, but possessed about 1/2 of all landed property. (Ref. 292 )

Spain

We have mentioned Spain's problem of establishing a new ruler after the death of the imbecile king Carlos (Charles) II in the remarks just above. Practically no battles were fought on Spanish soil. Although both the English King William and the Emperor Leopold died during the war, it dragged on with Eugene of Savoy handling the Habsburg war machine and the great Duke of Marlborough (John Churchill) handling English policy. Spain did lose Naples, Parma, Sardinia and Milan to Austria, while Sicily went to Savoy and Gibraltar and Minorca went to England. In the last 3/4 of the century Spain was more or less involved in continuous wars with various European alliances over various territories and successions - the War of the Polish Succession, the War of Jenkins Ear with England, the War of the Austrian Succession, the Seven Years War, then war with France, then with France against England again. At the end of that last one, at the 2nd Treaty of Ildefonso, France obtained Louisiana from Spain. In spite of all, the Spanish overseas empire brought wealth and prosperity throughout the century. Spain made war on American gold.

Map taken from Reference 97.

Philip V, grandson of Louis XIV was the first Bourbon on the Spanish throne. A melancholy man, he was dominated by women, first the princesse des Ursins , lady in waiting to his first consort, Maria Luisa of Savoy, then by his wife Elizabeth Farnese, who in turn was dominated by the chief minister, Cardinal Alberoni. In the War of the Polish Succession Naples and Sicily passed to Don Carlos (later Carlos III), son of Philip and Elizabeth. In the War of the Austrian Succession Spain obtained Parma and Piacenze for Charles' younger brother, Philip. Philip V was succeeded by Ferdinand VI, his son by Maria Luisa. In the years before the Seven Years War both France and England had sought a Spanish alliance, but Ferdinand, by manipulating his ministers, kept Spain out of that war during his lifetime. He died in 1759 and was followed by his half brother, Carlos (Charles) III, who finally succumbed to pressure from France and got involved in the war, which drained Spanish revenues and resulted in England receiving Florida, although he did obtain Louisiana from France. Because he helped the Americans some in their revolution, Carlos re-obtained Florida and picked up Minorca from England at the Treaty of Paris of 1783. Carlos III is regarded as the greatest Bourbon king of Spain, but Carlos IV, who followed, was ineffective.

Questions & Answers

differentiate between demand and supply giving examples
Lambiv Reply
differentiated between demand and supply using examples
Lambiv
what is labour ?
Lambiv
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Venny Reply
how is the graph works?I don't fully understand
Rezat Reply
information
Eliyee
devaluation
Eliyee
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WARKISA
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Lambiv
multiple choice question
Aster Reply
appreciation
Eliyee
explain perfect market
Lindiwe Reply
In economics, a perfect market refers to a theoretical construct where all participants have perfect information, goods are homogenous, there are no barriers to entry or exit, and prices are determined solely by supply and demand. It's an idealized model used for analysis,
Ezea
What is ceteris paribus?
Shukri Reply
other things being equal
AI-Robot
When MP₁ becomes negative, TP start to decline. Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of lab
Kelo
Extuples Suppose that the short-run production function of certain cut-flower firm is given by: Q=4KL-0.6K2 - 0.112 • Where is quantity of cut flower produced, I is labour input and K is fixed capital input (K-5). Determine the average product of labour (APL) and marginal product of labour (MPL)
Kelo
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Shukri
Can I ask you other question?
Shukri
what is monopoly mean?
Habtamu Reply
What is different between quantity demand and demand?
Shukri Reply
Quantity demanded refers to the specific amount of a good or service that consumers are willing and able to purchase at a give price and within a specific time period. Demand, on the other hand, is a broader concept that encompasses the entire relationship between price and quantity demanded
Ezea
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Shukri
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Lilia Reply
what is the difference between economic growth and development
Fiker Reply
Economic growth as an increase in the production and consumption of goods and services within an economy.but Economic development as a broader concept that encompasses not only economic growth but also social & human well being.
Shukri
production function means
Jabir
What do you think is more important to focus on when considering inequality ?
Abdisa Reply
any question about economics?
Awais Reply
sir...I just want to ask one question... Define the term contract curve? if you are free please help me to find this answer 🙏
Asui
it is a curve that we get after connecting the pareto optimal combinations of two consumers after their mutually beneficial trade offs
Awais
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Asui
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities, where neither p
Cornelius
In economics, the contract curve refers to the set of points in an Edgeworth box diagram where both parties involved in a trade cannot be made better off without making one of them worse off. It represents the Pareto efficient allocations of goods between two individuals or entities,
Cornelius
Suppose a consumer consuming two commodities X and Y has The following utility function u=X0.4 Y0.6. If the price of the X and Y are 2 and 3 respectively and income Constraint is birr 50. A,Calculate quantities of x and y which maximize utility. B,Calculate value of Lagrange multiplier. C,Calculate quantities of X and Y consumed with a given price. D,alculate optimum level of output .
Feyisa Reply
Answer
Feyisa
c
Jabir
the market for lemon has 10 potential consumers, each having an individual demand curve p=101-10Qi, where p is price in dollar's per cup and Qi is the number of cups demanded per week by the i th consumer.Find the market demand curve using algebra. Draw an individual demand curve and the market dema
Gsbwnw Reply
suppose the production function is given by ( L, K)=L¼K¾.assuming capital is fixed find APL and MPL. consider the following short run production function:Q=6L²-0.4L³ a) find the value of L that maximizes output b)find the value of L that maximizes marginal product
Abdureman
types of unemployment
Yomi Reply
What is the difference between perfect competition and monopolistic competition?
Mohammed
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Source:  OpenStax, A comprehensive outline of world history. OpenStax CNX. Nov 30, 2009 Download for free at http://cnx.org/content/col10595/1.3
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