4. What were the economic & social basis of the Renaissance. A 4. What were the economic & social basis of the Renaissance? A. changing economy: international trade created Italian rich cities and rulers, providing the capital and the flow of ideas for the new culture; Atlantic powers’ colonial expansion rivaled Italy in cultural expansion; B. urban society: complex structure- nobles, merchants, workers, rulers; pursuit of wealth and opportunities for traders/bankers to interact with

the world beyond their town walls created an atmosphere more open to new ideas and to innovation and enterprise in all aspects of life; C. rural society: new urban markets for agricultural products turned the self-sufficient rural economy into a one that produced goods for sale; landowners wanted to receive cash from tenants to buy products from merchants; independent kind of life replaced communal serfdom;

The First Crusade (1095-1099) The Crusades introduced Europeans to other cultures and helped to revive trade that had lagged during the Middle Ages. Although Christian territories acquired during the First Crusade were gradually lost over the next 200 years, the revitalization that these commercial contacts brought had lasting impact on economic and cultural developments during the Renaissance.

Italian Banking in the 14th Century--Banks first emerged in the Middle Ages, but grew in importance as commerce developed during the early years of the Renaissance. The Medici family, one of the most prominent merchant and banking families in Europe, used their wealth from money-lending to become patrons of the arts and gain political power.

Columbus Setting Sail in 1492 on his first journey in search of a quicker route to Asia. Here, Columbus takes leave of Ferdinand V and Isabella, the Spanish rulers who sponsored his first expedition. Exploration became an important element in international rivalries for economic and political power.

Rise of the City The growth of trade and the rise of wealthy cities in Italy helped to encourage the political and cultural achievements of the Renaissance. Within the walls of these thriving urban centers lived an increasingly diverse mix of social and economic groups. This portion of a fresco illustrates the energy and bustle of city life.

Rural Life The peasants in rural areas of Europe received little benefit from the literary and artistic developments of the Renaissance but were deeply affected by economic changes. As urban markets for agricultural products grew, a money-based economy began to replace the self-sufficient rural system of payment in service.