expansion of european economy. agricultural innovations improved plow(carruca) iron plow,which cut...
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Expansion of European Economy
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Agricultural Innovations
• Improved plow(carruca) iron plow,which cut deeper into soil. This allowed seed to germinate and produce more crop.
• New collar harness for the horse. This shifted the weight to the horses shoulders. Old harness had been designed for oxen would choke the horse.
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Other innovations in agriculture
• Horseshoe: metal shoe protected horse’s hooves from stones.
• 3 field system: allowed more land brought under cultivation
• Watermill: grind grain
• Windmill: grind grain and provide water even cut wood
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Settlement of new lands
• Feudal lords encourage, too raise $. Serfs begin to pay rents.
• Decline of feudalism( Feudal lords promise serfs freedom as an incentive to get them to become renters).
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Revival of Trade
• Greater food production= population growth
• Larger number of people free to work at non-farming tasks.
• Population growth contributes to a demand for goods
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New business practices
• Trade Fairs: Craft people set up booth at major trading sites to display their products
• Partnerships: 2 or more people pool their money to finance long distance trade
• Insurance-cover loss or damage of goods- reduced risk
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Banking
• Moneychangers: exchanged coins of one region for currency of another
• They began to loan $ and charge interest =Banking
• Letters of Credit- allowed businessmen to travel without a large amt. of cash
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Guilds
• Organization of merchants and master artisans to set regulations and protect members
• Prevent outside traders from setting up shop
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Craft Guilds
• Made up of artisans who practiced the same trade
• Closed shop of those not accepted
• Discouraged competition
• Prevent members from making more money than others ( same hours , equal quality, just prices)
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Levels within a Guild
• Apprentice- worked for 2-7 years for a master artisan to learn a trade
• Journeyman- worked for a daily wage with the master artisan
• To become a master artisan, you had to present a “masterpiece”, best example of the quality of your work.
• Master artisan- owner of the shop
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Growth of Towns
• Started along seacoasts,crossroads, near castles or monasteries.
• Townspeople made their own laws
• Had no feudal obligations
• Charter- document granted the townspeople the right to govern themselves
• Contributes to the decline of serfdom( “City air makes a man free”) if a serf fled to a town and lived there a year and a day he was free by custom
• Growth of the Middle Class( their world was the market)