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Portugal, which had been so successful in the preceding fifty years, began its inexorable decline. France developed economically and began to demonstrate aspirations to hegemony in Europe. England began to make progress in the fields of manufacturing and technology. Central and South America became a source of minerals and plantations. The Middle East and Africa both became less important for trade with Europe while trade with Asia grew. 3) From 1600 to the beginning of the second half of the 1700s: a period in which those nations that would be at the forefront of industrial and commercial progress in future centuries and those that would be less evolved began to be differentiated in the global economy.

113–14. Fanfani (1961), p. 77. In the opinion of Carcopino (1947), p. 275, quoted by Fanfani (1961), p. 79, the proletarians that were fed at the expense of the State in Rome numbered about 150,000. 14. 15. 16. 17. 18. 19. 20. 21. 22. 23. Power and Land Ownership 24. 25. 26. 27. 28. 29. 30. 31. 32. 33. 34. 35. 36. 37. 38. 39. 40. 35 Fanfani (1961), pp. 73–4 and 82. Carcopino (1947), pp. 106–09, quoted by Fanfani (1961), p. 80. On this point see Brown (1971), Jones (1974–1981), Mazzarino (1959).

States and monarchs aspired to power; they needed wealth and money, not only to live in luxury and to provide for internal security, but especially to finance the wars that absorbed the greater part of their revenue. Conflicts, conquests, plundering and other even less savoury activities such as slave trading were all part of the order of things. Therefore, the financial resources required forced the State and the sovereign to find help from, procure the collaboration of and reach agreements with merchants and bankers.

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