The European miracle, a term coined by Eric Jones in 1981,[12] refers to this surprising rise of Europe during the Early Modern period. During the 15th to 18th centuries, a great divergence took place, comprising the European Renaissance, age of discovery, the formation of the colonial empires, the Age of Reason, and the associated leap forward in technology and the development of capitalism and early industrialisation. The result was that by the 19th century, European powers dominated world trade and world politics.