History 1807 Lecture Notes - Lecture 10: Double-Entry Bookkeeping System, Luca Pacioli
31 Oct 2016
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Document Summary
Group of merchants felt hemmed in by static wealth of manors. Found common cause w/ kings/queens who also wanted to expand their influences. Over next several centuries, aristocracy begins to lose power to merchants. Main idea is class realignment, monarchies creating a prototype of states as we understand them today. The fact that they rely on coins to trade. Tough to move around w/ massive bags full of coins. Bare pirates and shit rob these people with big bags of coins. Through renaissance people try to do away with coins and replace w/ paper etc. It is with this that we begin to see the rise of banks. Many innovations being made to alter structural issues w/ commerce and give merchants greater access to capital. Problem w/ coin is that it"s tangible, it can"t grow, can"t do much w/ it. W/ advent of banks we see advent of merchants to expand.
