1. Economic and Social Changes of the Middle Ages Chapter 10 (3 of 4)

2. Later half of Middle Ages (after 900) trade begins increasing

3. Notice: England trades wool Scandinavia trades fur and timber Low Countries trade wool to Italy Europeans wanted luxury goods, like spices, from Asia

4. 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

5. The Commercial Revolution Period in later Middle Ages when trade was increasing, banks were being formed, and business was on the rise

6. 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

7. 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)

8. Origins of Capitalism Emerging Capitalism = 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 profits Still, capitalism was a ways off, and most economic activity was not centered yet on profit-making

9. 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

10. 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

11. 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)