Commercial Revolution, 1200 - 1500

Commercial Revolution, 1200- 1500. Silk routes & Constantinople. Middle ages- connected. What was the ‘Commerical Revolution’? Commerce- the activity of buying and selling, especially on a large scale. Trade- buying and selling goods and services. Revolution- dramatic wide-reaching change in conditions, attitudes or operation. Commercial change- alter lives. Argue- revolution. Reversal of some structures and the underlying change of peoples lives. Defining the commercial revolution. The Commercial Revolution of the Middle Ages- Robert Lopez, 1971. Essential text for change during this time. The economy of Renaissance Florence- Richard Goldthwaite. Goldthwaite’s definition- intensification & expansion of Italian trading activity throughout the Mediterranean & Western Europe has given rise to the rubric ‘Commercial Revolution’ to cover the period of early trade growth of the European economy, from the tenth to the fourteenth century. Focus- western Europe. Problem- revolution for other areas? Possible taking of practices from elsewhere? Lopez & Goldthwaite- western Europe. Changes put in place alters lives. Important to revolution- Italy. Trade routes. Managed by Venice & Genoa (Italy)- 13th & 14th century. Italian states- essential for banking & trade. Why study it? Several effects. 1. Development of money, credit & banking. 2. Increase in social class living on commerce (merchants). 3. Change to individuals lives’ and attitudes- widespread. 4. ‘Global Middle Ages’ Key factors for escalation of trading. 1. 2. 3. 4. 5. Agricultural progress- extensification & intensification. Demographic growth- more towns, cities & increase population. Italian towns. Increase in industrial sector- cities & country. Uneven economy- Europe & Muslim world & Byzantium. Lopez- factors linked to produce the ‘Commercial Revolution’. Agricultural progress. More agriculture- 10th to 14th century. Increase in food- 10th to 13th century. Allows more free time. Demographic growth. Births- increase. Longer life expectancy- better food. Further migration- towns & cities. Urban population- increase. First- Italy. Florence.   1200- 15,000 – 20,000. 1300- 90,000 – 13,000. Italian towns. Urbanisation. Northern Italy- unique political structure. Governed by wealthy people. Not fully reliant on agriculture. Location- transport links to Europe & east. Evidence- eyewitness accounts.  Giovanni Villani. Welcome commerce. Main concern- commerce industry. Industrial growth in cities. More political stability. Begin own manufacturing of goods. 13th century- goods being brought from Italy. Worthy of term ‘revolution’? Argue- increased speed of extension. Other side- utalized in recent works. Disagree- Lopez’s view of economic recession (14th & 15th century). Were the Later Middle Ages the most important era in the business history of Europe? Key business innovations. Credit- allows the obtaining of good by payments over time. More money lenders. Management of debt. Examples of changes. Commercial contracts- promote trade, allowed trade over a longer distance. Partnership contracts. Sea loans. Bills of exchange- 13th century plus.   Receive payment- pay back different date & currency if needed. Trade- wider distances & countries. Double entry book-keeping. Deposit banking. How else did the ‘Commercial Revolution’ affect people’s lives in practice? M. Howell- effects of changes? Suggestion- moveable land & goods, more household goods, more social groups benefitting from commerce. Effects. Land- less stable. Credit- extended. Scares individuals. More commerce- more household goods. Worries on who gets what. Case study- the Later Medieval city of Bruges. Worthy of title ‘Cradle of Capitalism’? What was Bruges in the Later Middle Ages? Essential banking centre & luxery items. 40,000 – 45,000- population. Individuals in close proximity. Connection to sea. Trade- British Isles, Baltic, Germany & Italy. Jim Murray- node in a network. Intersection of trade routes. Bruges & Zwin Estuary. Boats- Sluis, tax payed. Items- canal boats, taken to city. More commercial then industrial economic structure. Luxury industries- armour, manuscripts, tapestries and so on. Bruges- encouraged the growth of commerce. Creations- infrastructure for selling. Water Hall. Foodstuff unloaded from boats. Tech- crane. Merchants. Hansa, Castillians, Venetians, Genoes, Florentines, Luccese, Baque, Catalan, French, English, Irish, Scottish. Promotes trade. Merchants- individual areas of worship & homes. Bruges- decides prices of goods. Decline of Bruges. 15th century- economic difficulties. Revolts, plague, famines. Lower scription & fees- partly works. Not enough. Canal- silt up. Maximillian of Austria- orders foreign merchants to leave. Different markets- 15th & 16th century. Task for online session. Primary source & questions. Identity features of ‘Commercial Revolution’. Possible problems & issues.