1. Agricultural and Commercial Revolution!

2. Economic Recovery By 1000, Europe starts to regain its economy
New farming techniques and technology

3. Technology Advancements
Iron plows-carved deep into the soil
Horsepower-made use of horses to plow the fields
Windmill- used wind power to grind grain into flower

4. Expanding Production Feudal lords pushed their peasants and serfs to
Clear forests
Drain swamps
Reclaim wasteland
UTILIZE LAND!

5. Three Field System!

6. All of these improvements…
Produced more food
Population increased (doubled in size).

7. Trade begins again!
With new tools and technology for farming, not all goods were available on the manor.
Example: Iron for tools
Feudal warfare declines and people are able to leave the manor and trade for goods and supplies

8. What goods did they trade?
Iron
Fine wool
Furs
spices

9. New Trade Routes Merchant companies were formed.
Traveled in armed caravans for safety.
Exchanged local goods for those rare items from Asia and the Middle East.

10. Trade Fairs
People from villages, towns, and castles came together to trade and entertain
They took place near navigable rivers where trade routes met.
Peasants traded farm goods and animals
Nobles and lords were able to buy fine woolens, swords, sugar, and silks.

12. New towns and cities
Small centers of trade began the development of the first medieval cities!
Populations of these growing cities ranged from 10,000 to 100,000 people.
Most prosperous cities: Northern Italy

13. Charter: written document that set out the rights and privileges of the town.
Merchants asked the Lord or King for this charter to set up the new town
A large sum of money was paid for this charter.
Anyone that lived in the town for a year was considered free (serfs!)

14. Money’s back! With the revival of trade comes capital(money).
Growth of economy and banking
Starts moneylending(usury)
Church thought usury to be immoral

15. New Business Practices
Partnerships
Insurance
Bill of Exchange(deposit money with bankers so gold did not have to be carried because they were easily stolen)

16. Social Changes Peasants became tenant farmers
They no longer had to pay in labor they could pay in capital.

17. New social classes appeared
Merchants, artisans, and traders.
Considered the “middle class”

18. Guilds Associations for Merchants Passed laws Levied taxes
Decided how to spend funds

20. Craft guilds-represented different branches or workers
Weavers, bakers,brewers, swordmakers, goldsmiths,

21. Why were guilds created?
To prevent competition
Limit hours of labor
Set prices
Ensure the quality of the goods
Provide social services(opened schools, hospitals, gave to poor etc.)

22. How to become a guild member?
Apprentice: years of training under a master.
Usually spent around seven years learning a trade.