The Price Revolution And Economic And Social Changes In The Ottoman Empire In The 16th Century

The global flow of gold and silver from the Americas after the opening of the new shipping route brought a steady flow of gold and silver to the world.In the 16 th century,silver entered Europe,causing rising prices and inflation.But silver’s entry into the Ottoman Empire received little attention.Beginning in the middle of the 16 th century,a wave of price revolution swept through Anatolia and the Balkans.In the near east,there was also inflation of rising prices and depreciating currencies,which became known as the price revolution in the ottoman empire.The price revolution in the ottoman empire was caused by external and internal causes.The external cause was that European currencies poured into the empire through trade channels,causing the price of silver to fall.The internal causes were the economic and social development of the Ottoman Empire and the government’s policy of continuous depreciation of the coinage.The price revolution had a far-reaching impact on the Ottoman Empire.The devaluation of the currency led to the decrease of the gold and silver content of the currency,and the coexistence of various currencies in the market.The price revolution also caused a financial crisis for the government.To ensure stable financial revenue,the empire implemented a new taxation system.Finally,in order to cope with the border war,the traditional recruitment system was gradually broken,and the mercenary army,dependent on salary,entered the army,which increased the financial pressure and the national crisis.The price revolution in the near east had different effects on the social groups of the Ottoman empire,such as peasants,craftsmen,soldiers and traditional feudal lords,and adjusted the status of the social strata of the empire.Thus,the price revolution in the ottoman empire was a turning point in the development of the Ottoman Empire,after which the empire declined.