Why did the social and economic life in Europe change greatly in the late Middle Ages?

Because of the rise of capitalism and the opening of new air routes.

The capitalist era began in16th century, and at the end of feudal society, the development of commodity economy promoted the disintegration of natural economy in feudal society, resulting in the polarization of small commodity producers. The self-sufficient natural economy was destroyed, and a large number of farmers and craftsmen went bankrupt, thus providing free labor for capitalism and creating a commodity market.

In addition, the opening of the new sea route changed the basic closure of the country, laid the foundation for the subsequent plunder in Europe and triangle trade, and provided a huge means of production and market for the development of capitalism.

Extended data:

After the opening of the new air route, the scope of European trade has been expanded unprecedentedly, the ties between Western Europe and other nationalities in the world have been strengthened, and the world market has begun to take shape. The European trade center moved from the Mediterranean to the Atlantic coast, and Italy's commercial status was gradually replaced by Spain, Portugal, Britain and the Netherlands.

Portugal and Spain first began colonial expansion and plunder, but because the property plundered by Spain and Portugal from the colonies was for feudal rulers to enjoy, it was not used for capitalist development. Therefore, after the opening of the new sea route, the strength of Spain and Portugal actually declined.

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