economic changes high middle ages (1000 – 1300). consequences of crusades new products enter...
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Economic Changes
High Middle Ages
(1000 – 1300)
Consequences of Crusades
• New products enter Europe– luxury goods
• silks and spices
– Europeans became interested in trade
• Center of commerce changed for all of Europe– Venice, Genoa, Florence (northern Italian cities)
became wealthy and controlled trade
• System of commerce changed– bills of credit, checking, banking
Economic Changes – High Middle Ages
• Crusades– Europeans have contact with outside world
• emerge from isolationism
• Trade sparked by Crusades– massive economic changes in Europe
Economic Changes – High Middle Ages
• Agricultural revolution– new technologies
• iron plows• windmills
– improvements in agriculture → steadier food supply
• more food = more people = fewer farmers– population of Europe doubled
Economic Changes – High Middle Ages
• Medieval ploughing– ridge and furrow to improve drainage– ploughs fitted with coulter board which turned each
sod after it was cut, throwing it to one side
Economic Changes – High Middle Ages
• Trade revives– growing population demands more goods– feudal warfare decreases → traveling traders– merchant companies
• traders travel in armed caravans for safety
– new goods and new ideas brought by trade required Europe to develop trade goods
Economic Changes – High Middle Ages
• Trade fairs– brought together merchants and customers
• feudal rulers, nobles, wealthy churchmen– money for luxuries
fine swords, sugar, silks
• peasants– traded farm goods and animals
– food, drink– entertainment
• jugglers, acrobats, dancing bears
Economic Changes – High Middle Ages
• Towns develop– increased population– more available food– centers of trade– Cause the breakdown of feudalism– charter
• written document from local lord or king– rights and privileges of a town– merchants paid large sum, yearly fee, or both
• allowed towns to self-govern
– serfs could seek freedom in towns
Economic Changes – High Middle Ages
• Banks– trade required money, security, and credit
– capital• money for investment
– traders borrow from moneylenders to buy goods
Economic Changes – High Middle Ages
• Social changes– use of money undermines serfdom
• most become tenant farmers– peasants sell farm products and pay rent to lord in
cash instead of in labor
Economic Changes – High Middle Ages
• Social changes– new middle class
• merchants, traders, artisans• town dwellers• skilled workers• owed nothing to lord• depended on own hard work• grew richer than nobles• could afford an education
– Middle Class is wealthy,
but lacks any political power
nobles
middle class
peasants
Economic Changes – High Middle Ages
• Guilds– association of merchants or artisans– organized to protect economic interests
• control supply and prices of goods– each guild represented workers in one occupation
– prevented competition by limiting membership• no one but guild members could work in a trade
– made rules• protect quality of goods• regulate hours of labor
Economic Changes – High Middle Ages
• Guilds– provided social services for members
• schools, hospitals• needs of members (financial, old age, illness)• support for widows and orphans
• Merchant guilds dominate the economic and political life of towns.
• passed laws, levied taxes• decided how to spend town funds
Economic Changes – High Middle Ages
• Steps to becoming a guild member
apprentice journeymanmaster artisan(guild master)
Economic Changes – High Middle Ages
• Steps to becoming a guild member– apprentice to guild master
• trainee• age 7-8• 7years to learn trade• no wages• bed and board from guild master
• few apprentices became guild masters unless related to one
Economic Changes – High Middle Ages
• Steps to becoming a guild member– journeyman
• salaried worker
Economic Changes – High Middle Ages
• Town and city life
– filthy, smelly, noisy, crowded– narrow streets, tall houses
• upper floors hung out over streets
– wooden buildings close together• fire hazard
– no garbage collection or sewer system
• residents flung wastes into street
– unsanitary conditions• perfect environment for spread of
contagious diseases
Medieval town buildings
Economic Changes – High Middle Ages
• Trade put ideas and money into circulation– Europeans came into contact with more advanced
civilizations• products, ideas, technologies
• By 1400s, a desire to trade directly with China and India led Europeans to a new age of exploration