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)