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Cities such as Venice, Milan, Genoa, Florence, Siena, Pisa, Bologna among others, rose to great political power, becoming major financial and trading centers. These states paved the way for the Italian Renaissance and the end of the perceived obscurity of the Middle Ages.
Banks as we have come to know them in today’s world owe their origins to the innovative credit mechanisms developed in medieval Italy. By the twelfth century these ‘financial products’, including the holding of deposits, were underwriting the long distance transportation of goods.
Geography, more than anything else, gave Italy an advantage over northern Europe in regard to potential for amassing wealth and breaking free from the feudal system.
Nov 20, 2003 · A display of low-value coins from Greece helps illustrate how money became part of ordinary peoples' everyday lives during economic transformation in medieval Europe.
3 days ago · For these authors, the only true history will consist of separate accounts of the six major powers—Sicily, Naples, the Papal States, Florence, Milan, and Venice—together with those of some 15 to 20 minor powers—such as Mantua, Montferrat, Lucca, and Siena—which were scattered among them.
2 days ago · Early medieval Italy was an overwhelmingly agrarian society, as it had been before and as it was to be for centuries. Wealth thus derived above all from the ownership of landed estates. Estates were exploited by subsistence tenants on a standard medieval pattern.
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Nov 30, 2017 · Using data on population, urbanization, prices, wages, and GDP, this article outlines the macroeconomic trends in central and northern Italy in the age of the Renaissance (1350–1550).
