Part 1 of Essay
In 1492, Christopher Columbus discovered America. The discovery of the “New World” had many material, social, and cultural consequences upon Europeans and their civilization. The discovery also challenged traditional European conceptions, views, and material conditions. Many changes had taken place in Europe’s economy aft ....

Part 2 of Essay
.... prospered. Workers rioted and had strikes, in attempt to obtain higher wages. Sixteenth century intellectuals blamed this inflation on the import of American treasure in Europe. Modern historians have a different opinion on the causes of inflation. The price of wheat and other basic foods increased before the arrival of American gold and silver. Evidence shows there was a population increase. Therefore, the demand for food rose faster than the production did. The inflation had a negative effect on all of society ....