Do the economic changes In Europe during the era of American colonization qualify as a revolution?

Yes and no. A political or economic revolution - no. A social revolution - that can be debated.

Economic changes in England didnt come about so much as any desired policy. The wars of Henry VII and Henry VIII produced large debts for the government and in turn led to increased taxation and a reduction in the amount of silver in English Coins. By removing the amount of silver in coins led to a massive loss of value of the English coins, and made it harder for the English to trade at a profit in the large economic centres of Antwerp.

On the land, aristocrats were not making as much money from their landed estates and British merchants, often with aristocratic backing turned to piracy against Spanish shipping which was importing large amounts of gold and silver from the Spanish conquests in America.

There were also immense social problems. The conflict between the English King Henry VIII with the Pope divided England bitterly into Catholics and Protestants. Under Elizabeth 1, Religious persecution increased as Catholics were seen as almost a national threat for their support of a foreign power - the papacy.

The economic situation also hit the poor as well as the merchants and the aristocratic class. With very little income besides working the land for the aristocrats, the poor found very little alternative when aristocrats turned from the land and made huge investments in piracy.

In 1496, Pope Alexander VI gave the Catholic powers, Spain and Portugal to divide the world between them. To other powers as England and France, the papal decision to split the world with spain was an affront. The decision of the English King Henry VIII to split with the Catholic church and create his new Anglican church enraged Catholics.

At war with Spain and in desperate need to re-start the economy and gain income, the government supported Merchants who had turned to...