HIS109Y1 Lecture : Towns, Commerce and Economic Change
Document Summary
Crusades 1095-1099 heavily equipped armies palestine, syria, israel (cid:223) knights need to pay for armour, boats and ships, horses (cid:221) hard to barter for produce and livestock not flexible; hard to move funds, wealth. Constantinople) sophisticated economy (established trade, while fighting with muslims) 1100 -1150 double entry bookkeeping (accounts for funds coming in and out) Company of merchants import spices from constantinople instead of going on the dangerous voyage, invest money and hire a young merchant (cid:223) one voyage return of profit. Merchants investors stay in the cities and govern them benefits social change (cid:223) places of mercantile and social activity. Merchants parasites in the eyes of the nobles (did not have to go on crusades) (cid:221) ex-serfs, self-made men. Nobility outdated itself, became one of the societal classes not fitting in the structure if the society; leads to social problems and revolution eventually.
