Decline of Venice's Economy

There were many factors that caused the decline in Venices delivery and industry. During the one-sixteenth century Italy was one of the most powerful and technologically advanced countries in the world, but during the seventeenth century new(prenominal) countries were becoming equally or more advanced than Italy. England, France, and Holland had started producing materials for a cheaper amount of capital because of the new technology they were using to concoct their goods. Since England, France, and Holland could make their materials for less money it meant that they could sell their materials for less money and still make a profit, whereas Venice stayed with the same manufacturing style and could not afford to cut their costs. Part of the decline in the scrimping was there was also a drop in productiveness because of the aging factor of the labour force after 1650 and wrong government policies. Venice had run out of lumber for building ships and was strained to buy foreign ships. Venices hold on supranational transaction was no longer as prevalent as it used to be because of the increase in labor from some other countries. Venice also never changed the wages for their employees, even though they were not making as much money as they had been during the sixteenth century.

The plague in 1630-31 in Venice had an impact on production because of the loss of people. The biggest reason Venices economy and industry was declining was their drop of exponent to change their style of manufacturing and trading. Venices lack of ability to change their way of transportation and manufacturing helped England and Holland become the new trading powers in the Mediterranean. Venice had run out of lumber to build their ships and was oblige to buy foreign-built ships. The reason this had an impact on trading was because they no longer were building their own ships and therefore they did not substantiate as many handy ship builders. If Venice had more skilled ship builders they would have been able... If you want to get a wide essay, order it on our website: Ordercustompaper.com

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