Ch 14.2 Trade Towns, And Financial Revolution

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Ch 14.2 Trade Towns, And Financial Revolution

  1. 1. Trade, Towns, and Financial Revolution Ch 14.2
  2. 2. A Growing Food Supply <ul><li>Warming trend between 800 and 1200. </li></ul><ul><ul><li>New farming lands developed </li></ul></ul><ul><li>Horsepower </li></ul><ul><ul><li>New harnesses needed, the yoke </li></ul></ul><ul><li>3 field rotation vs. 2 field rotation </li></ul><ul><ul><li>2 field= 1 on, 1 off </li></ul></ul><ul><ul><li>3 field= 1 summer, 1 winter, 1 off </li></ul></ul>
  3. 3. Trade and Finance Expands <ul><li>Population growth helped expand trade. </li></ul><ul><li>Fairs and trade </li></ul><ul><ul><li>Most traded their goods at fairs </li></ul></ul><ul><ul><li>Cloth was the most traded commodity </li></ul></ul><ul><ul><li>Bacon, salt, honey, cheese, wine, leather, dyes, knives, and ropes were others </li></ul></ul><ul><li>Guilds= association of people who worked at the same occupation </li></ul><ul><ul><li>Wheelwrights, glassmakers, winemakers, tailors, and druggists </li></ul></ul><ul><ul><li>Controlled wages and prices </li></ul></ul><ul><ul><li>Agreed to standard sizes, weights, and qualities </li></ul></ul><ul><ul><li>Apprentice  journeyman  gilded craftsman </li></ul></ul>
  4. 4. A Financial Revolution <ul><li>Merchants made money selling their goods at fairs. </li></ul><ul><li>Problem: Before you make any money, you have to make the goods, which costs money. But you haven’t made any money yet. </li></ul><ul><li>Solution: Get a loan </li></ul><ul><li>Problem: The Church forbade usury, or the practice of lending money with interest. </li></ul><ul><li>Solution: Get loans from the Jews, who had no religious usury laws </li></ul><ul><li>Problem: The Jews were making money off the Christians! </li></ul><ul><li>Solution: The Church relaxed it usury laws. </li></ul><ul><li>Moral of the Story: Jesus doesn’t mind you bending the laws, as long as the Church makes money. </li></ul>
  5. 5. Towns <ul><li>With the increase in trade, towns also grew. </li></ul><ul><li>The large cities of today’s Europe were only small towns for 100s of years </li></ul><ul><li>As towns grew, so did the opportunities for success. </li></ul><ul><li>Many serfs and peasants ran away from their manors and headed for the city. </li></ul><ul><li>The burghers , or town dweller, class was born </li></ul>
  6. 6. Revival of Learning <ul><li>Universities: Not places, but people </li></ul><ul><li>Dante Alighieri and Geoffrey Chaucer wrote in the contemporary vernacular. </li></ul><ul><ul><li>Normal people could not read or understand Latin </li></ul></ul><ul><ul><li>The could understand their vernacular, though </li></ul></ul><ul><li>Muslim contributed to European learning </li></ul><ul><li>Thomas Aquinas bridged the gap between religion and learning. </li></ul><ul><ul><li>Influenced by Aristotle </li></ul></ul><ul><ul><li>He and his friends were known as schoolmen, or scholastics </li></ul></ul>

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