History 2403E Lecture Notes - Lecture 6: Hans Fugger, Fugger, Middle Ages
2 May 2018
School
Department
Course
Professor
October 17th, 2017
Commercial Capitalism
Guest Lecturer: Jeff Adams
High middle ages
o 11th – 13th C.
o shift in agricultural techniques
- source of wealth was agriculture
o feudal society
- wealth laid in land and your ability to exploit that
- gradual shifts providing more advantages over generations
- starts to produce an agriculture surplus
o was previously subsistent farming
- a revival of trade
Merchants
- non-specialized
- tended to be involved in a lot of areas
- traded whatever they could get their hands on
- too dangerous to tie your fate to one commodity
- developing trade groups through traveling
o where you can get certain products
- requires lots of knowledge
o communicating with others
o how you deal with proper customs
o danger of thieves
o nature of the product
▪ what you had and what it was worth
▪ how much you bought it for
▪ knowing if you can sell it for a profit it another place
o no real standardized system of bookkeeping
▪ basic mathematics only emerging in the 1500s
▪ very few able to write
o famine
▪ will they have resources to purchase items
o wars
▪ these armies subsisted off the land: would have lost it all
o relative knowledge of coinage
▪ know their relative values
o tolls and tariffs
▪ will there be a profit left?
o location economic heartland
▪ shifts, was the south (Italy and Spain)
▪ mid 16thC. price resolution, inflation and population grows
▪ new world bouillon
• shift out of Spain
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