Economy
By the mid-16th century, the Margraviate of Antwerp (Duchy of Brabant) had become the economic, political, and cultural center of the Netherlands after its capital had shifted from the nearby Lordship of Mechelen to the city of Brussels.
Bruges (County of Flanders) had already lost its prominent position as economic powerhouse of northern Europe. And Holland was gradually gaining importance in the 15th and 16th centuries.
However after the revolt of the seven northern provinces (1568), the Sack of Antwerp (1576), the Fall of Antwerp (1584-1585), and the resulting closure of the Scheldt river to navigation, a large number of people from the southern provinces emigrated north to the new republic. The center of prosperity moved from cities in the south such as Bruges, Antwerp, Ghent, and Brussels to cities in the north, mostly Holland, including Amsterdam, The Hague, and Rotterdam.
Read more about this topic: Seventeen Provinces
Famous quotes containing the word economy:
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.”
—Henry David Thoreau (1817–1862)