Download Economic Effects of the Crusades

Economic Effects of the Crusades
The Crusades stimulated trade by introducing
Europeans to many desirable products.
Many of the products (such as fabrics, spices, and
perfumes) could not be produced on manors, so the
Europeans had to trade for them. This encouraged
Europeans to step up production of products so that
they had something to trade.
Trade promoted frequent contacts with the
Byzantine and Muslim Empires. New economic
institutions developed. The use of money increased.
Economic Effects of the Crusades:
- The Crusades stimulated trade by increasing the demand for Middle Eastern products.
- This stimulated the production of goods to trade in Middle Eastern markets.
- This encouraged the use of credit and banking.
The use of money developed, as did the use of banking and credit.
Important Economic Concepts:
- Church ruled against usury and the bank’s practice of charging interest helped to
secularize northern Italy. Usury is the lending of money and
charging interest a service. Usury also has the meaning of
charging too high of a rate of interest on borrowed money.
- Letters of credit served to expand the supply of money and
expedite trade.
- New accounting and bookkeeping practices, including the
use of Arabic numerals, were introduced.
The changes in trade and economic systems were among the
first steps leading to the Renaissance (“rebirth”), which marked Europe’s shift from an
agricultural society to an urban society.
The Rise of Italian City States
Because of Italy’s geography, port areas became their own
city-states and Italy was not unified. Because each area
was a port, they accumulated wealth because of their
trading and distribution methods.
Wealth accumulated from European trade with the Middle
East led to the rise of Italian city-states. Wealthy merchants
were active civic leaders. Medieval towns created a new
class of people, the middle class. The middle class was
known as the burgesses or the bourgeoisie in France. Italian
towns used the political power from the money economy and
formed communes/groups to end the power of feudal lords
and make Italian towns into independent city-states.
Florence, Venice, and Genoa:
- Had access to trade routes connecting Europe with the Middle Eastern markets.
- Served as trading centers for the distribution of goods to Northern Europe.
- They were initially independent city-states governed as republics.
Niccolò Machiavelli, a former diplomat, observed city-state rulers of his day
and produced guidelines for the acquisition and maintenance of power by
absolute rule. Machiavelli wrote a book called The Prince, which was a
modern treatise on government. It was a book on how to best rule and keep
power in government.
Machiavelli’s The Prince:
- Published in 1515.
- An early modern treatise (formal written book on a particular subject) on government.
- Supported the absolute power of the ruler.
- Maintains that the “end justifies the means.” In other words, do what you need to do to
reach your goal.
- Advises that one should do good if possible, but do evil when necessary.
- Advises that it is the nature of man to be “liars and deceivers” and they would turn on a
ruler. Therefore, a ruler had to make his men fear him.
The Italian Renaissance
Florence, Italy was the birthplace of the Renaissance. The Renaissance
produced new ideas that were reflected in the arts, philosophy, and
literature. Patrons, wealthy from newly expanded trade, sponsored works
which glorified city-states in northern Italy. Education became increasingly
secular.
Medieval art and literature focused on the Church and salvation; Renaissance art and
literature focused on individuals and worldly matters, along with Christianity.
Artistic and Literary Creativity during the Renaissance:
- Leonardo da Vinci – Mona Lisa and The Last Supper.
- Michelangelo Buonarroti – the ceiling of the Sistine Chapel and
David.
- Francesco Petrarch – Wrote sonnets (short poems) and produced
humanist scholarship.
Renaissance thinkers examined ancient knowledge and arts. Many
were Humanist. A humanist is a person who studies ancient
literature and culture to understand present times. Humanism
inspired new forms of writing such as writing about the daily lives
and feelings of people.
Humanism:
- Celebrated the individual.
- Stimulated the study of Greek and Roman literature and culture.
- Was supported by wealthy patrons.
A patron was one who supports writers and artists with assistance and/or money. The
Medici family was an example of a patron. Medici was a prominent banking family who
ruled the republic of Florence beginning in the 1400’s and supported Renaissance scholars,
writers, and artists.
Northern Renaissance
With the rise of trade, travel, and literacy, the Italian Renaissance spread to northern
Europe. The art and literature changed as people of different culture adopted Renaissance
ideas.
Northern Renaissance:
- Growing wealth in North Europe supported Renaissance ideas.
- Northern Renaissance thinkers merged humanist ideas with
Christianity.
- The movable type printing press and the production and sale of books
(Gutenberg Bible) helped disseminate (spread) ideas. Gutenberg was a
German metalworker who invented the movable printing press in 1440.
It helped spread literacy and ideas and produced books such as the bible.
Northern Renaissance Writers and Artists:
Desiderius Erasmus (Pictured Right): The Praise of Folly (1511) – In
this work, Erasmus expressed concern for the decline of basic Christian
ethics, or moral rules of behavior.
Sir Thomas More (Pictured Right): Utopia (1516) – In this work,
More described an ideal society where people lived in peace and harmony;
crime has ended and all people are educated.
Jan van Eyck: Portrayed religious figures with a background of common
people.
Northern Renaissance artists portrayed religious and secular (real life)
subjects. Flemish artists developed the technique of painting in oil and
painted realistic peasant life and portraits.