Economic and Social Changes of the Middle Ages
Chapter 10 (3 of 4)
Later half of Middle Ages (after 900) trade begins increasing
Notice:England trades wool
Scandinavia trades fur and timberLow Countries trade wool to Italy
Europeans wanted luxury goods, like spices, from Asia
Manor System Under Fire
As western Europe began
recovering after 900 C.E.,
manorialism remained in
place
Peasants began revolting as
nobles tried to increase their
power by raising taxes
The Commercial Revolution
Period in later Middle Ages when trade was increasing, banks were being
formed, and business was on the rise
The Hanseatic League (1200s-1600s)
Trade alliance formed by cities in northern
Germany (grew so that close to 100 cities were in
the alliance)
Merchants united – traveled together and only traded with other
members of the alliance
Comparing Western Merchants to the World
While the Western
merchant spirit was increasing
late in the Middle Ages, it existed
elsewhere in the world as well
Muslims traders were still wealthier and more
adventurous
Merchant still viewed in a higher light in
Middle East and India
Western merchant getting unusually
strong political power though (Hanseatic
League)
Origins of Capitalism EmergingCapitalism = profit
motive
Banks were created leading to more use
of money
Bankers and merchants invested in business ventures
hoping to make a profit
People were trading more, looking to
make profitsStill, capitalism was a ways off, and most economic activity was not centered yet on profit-making
Guilds
Guilds had a lot of clout in cities, and its members often had a voice in the government
Guilds actually discouraged new innovations and technology because it threatened to upset the balance they sought to create
Example = Guilds regulated the amount of people in a particular field so there would not be an oversaturation, and there would be enough work for
everyone
Guilds stressed equality and security for all members (not to compete with others to try to make as much as you could
Guilds = organized groups of people in the same business in a single city
Economic as the Middle Ages Drew to a Close
Capitalism (profit-seeking) was starting to emerge, but the economy of western
Europe was mostly based on group welfare and security
Women
All the changes taking place during the Middle Ages was having a
negative impact on women
Women in towns and cities were in involved in local commerce, but
creation of guilds shut out women
and their involvement
decline
Literature late in the Middle Ages stressed women
as being assistants to men and staying home to take care of the
household
In some ways, Western women
better off than other areas (ex:
less segregated in religious
ceremonies and less confined to
the home than in Islam)