History slide 3

  1. Explain the role of Italy in the world economy?
    • North Italy takes the lead:
    • -Abandoned cities towards recovery: early medieval period: Venice, Pisa, Genoa expands during the Muslim invasion in the 900s-the link to trade.
    • -Italy becomes the centre for long-distant trade
    • -Intermediaries: advanced East connected with the poor west.
    • -Migration→increased population→productivity→Market expansion/trade=Modern market
    • The role of Italy 1100-1200
    • - Luxury goods: import of spices, silk, porcelain, brocades, precious stones (China)
    • -Bulky goods: alum and cotton (levante)
    • -Re-export of goods from the North-west: wool, salt, fur, timber-linen cloth, metal goods, glass.
    • -Venetian trades secured a favoured and privileged position in trade with the Byzantine Empire.
    • -Genoa defeated Pisa: control of the trade with west mediterranean and northern africa

    • Northern Italy 1200s-1350s
    • -Venice and Genoa: centres for trade, banking, financial activities
    • -Capital growth
    • -Increased agricultural productivity close to major cities →urbanization
    • -Inventions spread: book-keeping, banking (bank notes form China), banking terminology- financial instruments needed for trade and capital formation
    • -Urban markets and trade constituted a pull factor for economic and social/institutional development.

    • Modern economic features; North Italy:
    • -Labour services replaced by money rents
    • -Increased productivity by means of technology→migration to cities
    • -The market based system necessitated feudal decline: competing cities
    • -In europe only the Netherlands and present Belgium had areas of similar economic significance: high population density, advanced agriculture, markets and commercial centres.
  2. Explain Chinas link with Europe?
    • -Chinese wealth and skills in craft work and metallurgy attracted Italian traders 12-1300s
    • -Inventions:Compass, banknotes, gunpowder
    • -Open for trade and exchanges (The mogol empire)
    • -The silk route to Europe and the mid East
    • -Indian ocean dominated by Arab merchants & traders-links to China
    • -China from mid 1300s: economic growth and population growth-large cities -agricultural expansion
    • -Centralized government & productive agriculture
    • -More developed technology than the west
  3. Describe the Hanseatic League 1358?
    • -Mercantile and political: almost 200 major cities in North sea and Baltic Sea
    • -Visby: Entrance to Russia-via Daugava and Novgorod
    • -Lübeck (f. 1159) the "queen" of the Hansa
    • -The cog-Suberior for trade (efficiency)
    • -Exchanging fur, grain, timber, flex, hopes, for salt from Germany and France
  4. Describe the Hanseatic organization?
    • -Low internal transaction costs
    • -High external transaction costs
    • -Information monopoly on prices
    • -MNC: centre in Lübeck- network of cities
    • -Innovative in technology & business practises
    • -Contributed to urbanization/city growth
    • -Strengthened business
    • -German language becomes "lingua Franca"
    • -Spread of christianity and German customs/culture
  5. Describe the fall of the Hansa
    • Pressures from:
    • -Expanding capitalism
    • -Rise of territorial states- centralized nation sates in the west (unified states) eg. Sweden
    • -Internal political conflicts in non unified German speaking areas.
    • -Ideological and social changes; 1600s on: new class of merchants in cities- identifying themselves with the nation state instead of the feudal power
  6. The North sea and the Baltic sea 1500-1800
    • -More important due to Atlantic trade(Britain advances + Netherlands, Sweden, Denmark, Russia
    • -Trade routes In eastern europe becomes peripheral
    • -Swedish kind-G.Wasa-reduction of church assets
    • -Better ships, new goods & global markets
    • -Slave trade
    • -1721- Treaty of Nystad: Sweden lost Estonia
    • -1809: Sweden lost Finland
Card Set
History slide 3
Medieval trade in europe