2.2.1 The Growth of London and its impact o economic Development Flashcards
In… London became the largest city in Western Europe, with a population of…
the mid-17th century
around 400,000
London was at the heart of the… and ….. network and could support the increasing… for …… , as well as being home to the new… …… ……..
road and shipping network
demand for goods
investment banking industry.
What did London offer? (6)
1 B&I industries in London, hat provided employment as well as the capital needed to maintain merchants and business’
2 Centre of legal system, inns of court where legal training would take place and where most high profile lawyers were based
3 Transport had improved since tudor times
4 Demographic growth in London surpassed other towns,
5 Skilled and educated workers were more likely to move to London as it offered more than work.
6 A Number of markets meant London was focal point for economic activity in SE
By the middle of the century, what was dictated by the London market?
national prices of livestock, grain and cloth.
Some roads in London had seen… and the Thames was… . In other towns, less… was made in transport.
investment
navigable for much of its length
investment
As world trade grew, … grew and the risk associated with… became greater.
London
trade
Significance of London -
1 London was the economic, political and religious capital of England, resulting…… . . ….. ….. from countryside and also the …… and their families.
migration of poor workers
gentry
Significance of London -
2 If the son of a wealthy landowner wanted to gain …. at the …. ….. , he would gravitate to London. If they didn’t succeed in ….. they were able to have a career in the …. .
favour
ROYAL court
Politics
military
Significance of London -
3 Training in …. was also a well respected career in the gentry and membership with one of the … .. ….. was essential for any aspiring barrister.
law
inns of court
Significance of London -
4 A number of charted companies whose interest were in trade and exploration were based in London. Eg: …. …. ……… (established in 1600) as well as the Levant company (founded in 1581)
East india company
London. Situation by 1688
1 By 1688 London was at the centre of the british trade and it was the hub of a european market that relied on the port of the city.
As world trade grew, London grew and the risk associated with trade became greater. In response to this risk, merchants became aware of the need to ensure their ships and goods leading to a boom in the insurance industry (1688)
As world trade are, London grew and the risk associated with trade became greater. To respond to this risk, merchants became aware of…
the need to insure their ships and goods, leading to a boom in the insurance industry.
