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The Rise of the Mercantile Economy.pdf

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Kenneth Bartlett

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TheRise of the MercantileEconomy September-24-12 3:07PM • Moneyhadto comefromsomewhere • Crusades-werecrucialtobringinginacash moneyeconomy • Bardi • Peruzzi • Medici • Fugger • Florin • Ducat • Habsburg • Knightshadtopay peopletohelpthemsailacrossduringthecrusade • Couldn'thaveabartersystemwouldnotwork • Moneywasonethingthat everyonecouldrelateto • Crusadeslastedfor100's ofyears -neededcomplexsystemstoensurethatyoucouldkeepthecrusades going • Traderoutesneededtobedeveloped • ThiscreatedconnectionsbetweensouthernersandtheEuropeans • Islamicsocieties,amongothers,hadcashsystem • Amediumofexchangewasneeded • Greatneedofcash neededinstrumentstoaccumulatethecash • Anewclassneededtobecreatedtocreate thissystem • Tomakesurethat thecrusadeswereproperlyserviced,Doubleentrybookkeepingwasusedtokeep trackof themoney • Thispermittedtheindividualstokeeptrackofthemoneybetter • Newbusinessorganizationswerecreated • Moneywouldneedtobeborrowed • Earlierintheage,peopletriedtoacquirealotof capital • you needednewinstitutionstogetthemoneyout • MerchantsrealizedtheycouldgetrichbybuyingspicesfromConstantinopleandselltheminVenice • Investorswouldinvestincompanies • Themerchantswouldgetthemostreturniftheywenttoachievetospices • Revolutionary-trustpeopleoutsideofyourfamily • Investorsalsorealizedthattheycouldgetrichbynot havingtoleavetherecities • Theyalsorealizedthattheycouldgovernthecities • Citiesbecameplacesofmerchantable -becameplacesofwealthandeconomicactivity • Citiesbecamefocusesfornewsocialandeconomicallyelite • Merchantsandinvestors-despisedbartersystemb/churttrade • Citiesandtownswereexperimentstoseeiftheycouldenhancetheeconomicsystems • Nobles-hatedthemerchantsb/ctheygotrich at thenoblesexpense • Noblesdidn'tliketobedependantonthemerchants • Romanlaw-emperorcontrolsthecitiesandtowns • KingsandPrincesthoughtthattheyweretheemperor • Romanlawwouldendupstoppingthenobles • Merchants-didfitthe feudalismsystem • Whengroupsareproducesbychange,youget revolution • Howshouldthewealthofthenobilitybedistributed? • Merchants-had significantamountsofcapital -Merchantswouldenduploaningthecapitaltopeople • Excesscapitalleadtothecreationofbanks •
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