ECON 3R03 Lecture : 2013/01/30
10 Feb 2013
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Course: econ 3r03 - the history of economic growth. This was a time when city-states arose in parts of europe, among them venice. Venice was initially a small town on a swampy lagoon that survived by selling salt. Not far from the city was a supply of timber and they started building galleys from this timber supply. Their big break came when they aligned with the byzantine empire which provided it protection from the muslim eets and the normans (norsemen, vikings, etc). In return for this protection they gained trading privileges and became a central centre of trade for spices, silks and slaves. They were not a self- supporting city so they relied on trade to import anything they couldn"t produce locally. The genoans began as pirates in the mediterranean ocean against muslim shipping at sea and even going as far as raiding muslim ports in north africa.
