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HIS109Y1 (536)
Lecture

Mercantile Economy.docx

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Department
History
Course
HIS109Y1
Professor
Kenneth Bartlett
Semester
Fall

Description
Mercantile Economy first crusade 1095 BC required funding because needed capital to transport western knights across Mediterraneanfostered capitalization and trade cities required a medium of exchange recognized across cultures gold coins needed to be accepted in Venice and Jerusalemcrusades stimulated European economy piracy and war were trading my any other nameswhat you stole you would sellwar crusades and piracy supported tradeThis required a different commercial organizationEurope was developing becoming more sophisticated Significant changes taking place with regard to Europes social and economic structure Enabled planning and business organization Social mobility for peoples whose wealth and inheritance wouldnt help them achieve their goalsThis reorganization of society created a new class of wealthy townsmen who controlled their towns Economic political and social revolution allowed a platform for early modern Europe Merchants traveled long distances with valuable goods oftenWas impossible for one person to accumulate huge amounts of capital Needed a sy
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