1. The Commercial Revolution
Aim: Compare and contrast Medieval Guilds with modern unions
Do Now: Where in the world do your food, clothes, and luxury goods come from?

2. The Commercial Revolution-Increase in trade that changed Europe from local economies to a global economy.

3. Causes of the Commercial Revolution.
Increase in trade
Growth of Cities
Causes of the Commercial Revolution

4. Effects of the Commercial Revolution
Money grew in importance
A new social class known as the middle class grew

5. Towns and the Middle Class
Growing Population and increase in trade led to towns to increase
A new class known as the middle class began to rise (artisans, traders and merchant)
Were known as the middle class because they were between the nobles and the peasants

6. Rise of Guilds Guild- trade association
All the workers who worked in one craft joined together
Merchant guilds had a lot of power

7. Purpose of Guilds
Guilds were formed to protected the interest of the members
Made sure quality of goods was high
Provided social services such as hospitals
Regulated hours of work and price of goods
Ensured a new supply of workers
E. Napp

8. Rise of Capitalism
Capitalism- economic system where businesses are privately owned and operate for profit
E. Napp

9. New Business Practices
Joint Stock Companies
Insurance
Banking
E. Napp

10. The commercial revolution lead to the
Renaissance
E. Napp

11. Reflection
Create a Venn diagram of the similarities and differences of modern unions and Guilds