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 journeyman master 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