HIS109Y1 Lecture : Mercantile Economy.docx
Document Summary
Crusades (lasted for hundreds of years, on and off): an important cause of money economy. Couldn"t have barter system under these conditions (needed something everyone across continents would accept) Trading lines (continuous connection between civilizations) had to be established so knights could be presented w/ necessary, available equipment, horses, food, replacement knights, etc. Europe was in contact w/ more sophisticated, money economies (ex. People wanted to adapt what they saw in foreign societies in their own, so a common medium of exchange was required. New instruments were required to change political, social & economic structure. Things that began in order to make sure crusaders were properly serviced: New system of keeping track of money (double-entry system was invented): revolutionary, allowed people to save more & concentrate more $ in one place. New forms of business organization & rules (where did $ come from?)
