HIS102Y1 Lecture Notes - Lecture 3: Black Death, Bourgeoisie
Document Summary
Mercantile economy and towns: economic imperialism- exchange of money - fighting against army but still occupying town meaning need money piracy and trade are the same occupation take what you need form who has it . Medium of exchange = money: europeans needed liquid money to buy needs. Where did money come from-coinage invented to support trade- trade was created without cash. Indicates sovereign if face was on a coin. Not enough value to coins: sovereigns lost so much power - no one was wealthy enough to built a working money economy, coins were made without any ideas what it actually worked. Feudal rulers made quick cash was take what ever coins they had and based them - copper was predominant. Byzantine, islamic or roman coins were the most spread out: trading cities and feudal lords could not do it due to fragile economies, italian wealthy cities introduced money of account (florence and venice).
