Christopher Columbus’s discovery of the “New World” had an effect on European society’s economy, agriculture, industry and well-being of the people.
During this period in Europe, wealth was equated to land (especially) and money. With the immense amount of gold and silver brought back to Europe as well as all of the newly claimed land, money and land values decreased in Europe causing inflation. Those in debt were finding the cost of their debt was shrinking, and those being paid this debt were finding that the amount they were paid was the correct amount in tangible money but less in value. This was called the Price Revolution.
The typical family of peasants survived on grain; they didn’t have much after paying taxes, so they were making