0:06
economic Decline and the fall of the
0:10
the decline of the Ottoman Empire was
0:12
not solely due to military failures or
0:15
political instability its economic
0:17
Frailty played an equally important role
0:19
in shaping its downfall like many other
0:21
Empires throughout history the economic
0:24
backbone of the Ottoman Empire was
0:26
closely linked with its military and
0:28
political might this symbiotic
0:30
relationship made economic decline all
0:32
the more devastating as it led to a
0:34
decrease in available resources for
0:36
military expansion and maintenance one
0:39
inflation and currency devaluation one
0:42
of the first indicators of economic
0:44
decline was the rampant inflation and
0:46
devaluation of currency for much of its
0:49
history the Ottoman Empire had a strong
0:51
and stable currency but by the 17th
0:54
century this was no longer the case the
0:56
Empire started facing difficulties in
0:58
maintaining the value of its currency
1:00
due to a combination of expensive Wars
1:02
corruption and inefficiencies in tax
1:06
furthermore the influx of silver from
1:09
the Americas into Europe resulted in
1:11
price increases that affected the Empire
1:13
inflation led to higher costs of goods
1:16
and increased the economic burden on
1:19
both the state and the people
1:20
diminishing the quality of life and
1:23
causing social unrest 2. increasing debt
1:27
another issue that plagued the ottoman
1:29
economy was increasing debt especially
1:32
in the 19th century the Empire had to
1:34
rely more and more on European loans at
1:37
exorbitant interest rates initially
1:39
these loans were used for modernization
1:40
efforts and to finance Wars but
1:43
eventually they became a means to
1:45
maintain the Empire's bureaucracy and
1:47
Military the debt burden became
1:49
increasingly unsustainable and led to
1:51
financial dependency on European powers
1:53
eroding the Empire's sovereignty and
1:56
limiting its economic and political
1:58
choices three loss of trading
2:00
opportunities during its Heyday the
2:03
Ottoman Empire was a dominant trading
2:05
power controlling crucial land routes
2:07
between Asia and Europe the Empire
2:09
benefited immensely from the Silk Road
2:11
and other trade routes however the
2:14
discovery of sea routes to Asia and the
2:16
New World by European explorers shifted
2:19
the focus of trade away from the land
2:21
routes controlled by the Ottomans
2:23
moreover European powers particularly
2:26
the British Empire established new
2:29
trading routes that bypassed
2:30
ottoman-controlled territories this loss
2:33
of trading Monopoly led to decreased
2:35
revenue and further strained the
2:36
Empire's finances 4. decline of
2:39
craftsmanship and Manufacturing
2:42
an often overlooked aspect of the
2:44
Ottoman economic decline is the
2:46
degradation of local Industries and
2:48
craftsmanship the influx of Cheaper
2:50
European Goods facilitated by improved
2:52
Maritime trade led to a decline in
2:55
traditional ottoman crafts and
2:56
industries this decline was not only an
2:59
economic loss but also a cultural one
3:02
the inability of local Industries to
3:04
compete with European manufacturers
3:06
further exacerbated unemployment and
3:09
poverty within the Empire 5. failure to
3:13
modernize while European nations were
3:15
experiencing the Industrial Revolution
3:17
the Ottoman Empire lagged in adopting
3:20
new methods of production and management
3:22
attempts at modernization like the
3:24
tanzimat reforms were often too late or
3:27
insufficiently implemented the Empire's
3:30
failure to modernize its economy meant
3:32
that it could not compete with the
3:33
rapidly industrializing European powers
3:36
this industrial Gap translated into
3:39
military weaknesses as well as the
3:41
Empire could not produce the advanced
3:43
weaponry and ships that their European
3:45
counterparts could 6. impact on Military
3:48
capabilities the economic decline had a
3:51
direct impact on the Empire's military
3:53
capabilities lack of funds meant
3:56
outdated Weaponry insufficient training
3:58
and poor Logistics this weakened
4:01
military power made it increase
4:02
increasingly difficult for the Empire to
4:04
defend its vast territories against both
4:06
internal revolts and external threats
4:09
thus forming a vicious cycle where
4:11
economic decline led to military failure
4:14
which further damaged the economy
4:16
conclusion the economic decline of the
4:19
Ottoman Empire was a multi-faceted issue
4:21
fueled by inflation debt loss of trade
4:25
Revenue decline in manufacturing and a
4:28
failure to modernize these economic
4:30
troubles drained the Empire's resources
4:33
hindering its ability to maintain a
4:35
strong military or Implement much needed
4:37
reforms the financial downturn wasn't
4:40
just a symptom of the Empire's decline
4:42
it was a catalyst that accelerated its
4:45
fall by undermining the Empire's
4:47
military and political institutions
4:49
economic decline rendered the Empire
4:52
increasingly vulnerable setting the
4:54
stage for its eventual disintegration
