According to estimates, in the year 1500, Europe was the most impoverished region in the world. Dwindling resources, a growing population and an unfavourable environment saw the advent of the ever-increasing landless peasantry and the emergence of wealthy landlords, also known as nobles. The Church began to lose its legitimacy and power. The Monarchs were facing growing criticism of their leadership. Their rule, ordained by God and endowed by the Church, was under threat. The status quo was under pressure from the people, and to counter this pressure, the Monarchs sought more natural resources. To accomplish this, the Church and the state settled on an expansion plan. The Monarchs would use their ships to expand beyond tier territorial boundaries and would use violence against the people of the conquered lands to impose their rule. The Church would then use religion to pacify the conquered peoples to subdue them to imperial control to get more followers in return.
However, the Monarchs could not sustain the expense of expansion. The Nobles saw this as an opportunity and sold credit to empire seeking Monarchs. While the Monarchs were asserting their power across the globe, the Nobles grew wealthier than ever before. Despite the credit offered to these Monarchs, they were outspent and were heavily indebted. Imperialism was too costly. Since they could no longer…
