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Economy of the Netherlands from 1500-1700 : ウィキペディア英語版
Economy of the Netherlands from 1500-1700

The history of the Dutch economy has faced several ups and downs throughout the 16th and 17th centuries. It has undergone moments of prosperity and was once noted as one of the most dominant world powers in the 17th Century. It was heavily involved in the Atlantic Trade that had a large impact on its economy and growth. There is no clear definition for the Atlantic Trade, but researchers have concluded it may be referred to as: Trade with the New World, and trade with Asia through the Atlantic including, but not limited to, imperialism and slavery based undertakings.〔(Acemoglu, 2005: 547)〕 Among the most important of these traders were the Dutch and the British. It is noted that these two nations experienced a more rapid growth than most due to their non-absolutist political institutions. This is only one of many benefactors that played a large role in the shaping in the growth and economic change within the Netherlands that occurred throughout the 16th and 17th Centuries.
== The Rise of Dutch Independence ==

The Dutch success in trade did not come without struggle and conflict. Studies show that the Dutch had several qualities that afforded their trade system to rise above other European states throughout the duration of Atlantic trade. Dutch merchants have always had access and opportunities providing a gateway to profitable trade. They also had autonomy. Before the Dutch Revolt, though, the Dutch were under the control of the Habsburg Monarchy. The Habsburg Empire limited the power of Dutch merchants and their influence on trade. The Empire had control and tried to gain even more over the fiscal revenues from the Netherlands. Conflict amongst the merchants and the empire began to grow and independence and political institutions were the result.〔(Acemoglu, 2005: 566)〕
Amidst a revolt and a revolution, the Dutch were able to steadily improve their trading. Several important modifications were made to both Dutch military and commercial strategies. Before long, the Dutch had gained access to Asian and American trade centers. Leading this drive to independence was the merchants. The 15th Century marked the start of the expansion of the Dutch economy. Throughout this time the Dutch experienced growth in economic institutions that include agriculture, shipping, and public finance.〔(James D. Tracy, 1985; Jan Luiten van Zanden, 1993)〕 In 1590, the beginning of divergence between the South and North of Europe as well as the ‘explosion’ of Dutch commerce and the early stages of Amsterdam growing as a large financial capital.The growing Atlantic trade was edging out the once profitable Baltic route. With trade growing along this route and specialization prospering, the Dutch were ultimately victorious in their pursuits against the Habsburgs.
Israel states:

From 1590, there was a dramatic improvement in the Republic's economic circumstances. Commerce and shipping expanded enormously, as did the towns. As a result, the financial power of the states rapidly grew, and it was possible to improve the army vastly, both qualitatively, and quantitatively, within a short space of time. The army in- creased from 20,000 men in 1588 to 32,000 by 1595, and its artillery, methods of transportation, and training were transformed. By 1629, the Dutch were able to field an army of 77,000 men, 50 percent larger than the Spanish army of Flanders″〔(Israel, 1995: 507)〕

The Dutch prospered immensely during this time. The leading benefactor of this growth was trade and the means of which they manifested it.
They did so particularly through conflict and specialization. Now we see the importance of competitive goods, the Dutch traded what was in demand and the strategy proved to be very favorable for them. They were long distance tradesmen and had some breathing space as far as trade regulations went which also contributed to their growth. This is in comparison with the previous Habsburg restrictions. In his article, Acemuglu uses this evidence to prove that Atlantic trade led to the enrichment of merchants, which resulted in the development of political institutions. Said institutions are responsible for constraining the power of the crown.〔(Acemoglu, 2005: 566-8)〕

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