Overview
Originally the Italian merchants had a strong and flourishing maritime trading business. This strong type of sea trading, which the Italians had established with England and the Netherlands as well as most of the Mediterranean, was at a high point by the 14th century, but this soon ended. As the Italians were ravished by plague, disease and famine the trade routes were lost. Because of this a group of merchants in the North known as the Hanseatic League began to control most of the commercial trade around Europe.
Expansion of Trade
The Hanseatic League, sometimes called the Hansa, was simply a group of small coastal towns in Germany that grew to include over 80 cities in all and specialized in trade. The League had markets in many of the most prominent northern towns such as Denmark, Norway, and Sweden. The Hansa however, also had ties with the south. The League had established markets in Flanders as well; Flanders came to be known as the one place in which merchants of the Hansa and merchants of the Flanders Fleet of Venice could meet and trade amongst themselves. Sadly any ties the Hansa had with the south soon diminished as the bay of Flanders we soiled and slowly fell of the practice of trade. After the trade in Flanders ceased the Hansa found itself unable to keep up business amongst the larger territorial states of Europe.
In general, however trade in the Renaissance dramatically increased from where it had been in the Middle Ages. The Italians and more specifically the Venetians profited greatly from this economic boost, that is until the discovery of the new world placed a greater emphasis on trade with the western cities. Trade in the Mediterranean became less profitable as trade across the Atlantic increased.
In general, however trade in the Renaissance dramatically increased from where it had been in the Middle Ages. The Italians and more specifically the Venetians profited greatly from this economic boost, that is until the discovery of the new world placed a greater emphasis on trade with the western cities. Trade in the Mediterranean became less profitable as trade across the Atlantic increased.
Industries Old and New
Like trade in the Renaissance, industry also improved. While the industries in the Middle Ages weren't productive due to the economic hardship of the time, the industries of the 15th century skyrocketed. The woolen industry of Florence was able to flourish as well as a number of different other Italian industries including silk, glassware and handmade metal and gemstone products.
Along with the prosperity of the 15th century Italian industries there also came new advancements in the digging of mines, and in the separation of metal from ore and in the purification of metal. The entrepreneurs that developed these mines were set on finding the best sites in the most promising countries including Hungary, Tyrol, Bohemia and Saxony. The long term benefits of these mines was a stable economy and the eventual development of firearms.
Along with the prosperity of the 15th century Italian industries there also came new advancements in the digging of mines, and in the separation of metal from ore and in the purification of metal. The entrepreneurs that developed these mines were set on finding the best sites in the most promising countries including Hungary, Tyrol, Bohemia and Saxony. The long term benefits of these mines was a stable economy and the eventual development of firearms.
Banking and the Medici
Soon after the Middle Ages the economy of Florence improved due to the Medici Family. The family had previously specialized in the production of cloth, but in the 1400's expanded to commerce, real estate, banking, the production of wool, silk and the mining of alum. The family soon came to hold great amounts of power both in Florence and in the Church. Much like the Hansa, the Medici branched out and established banks in many major cities including Venice, Milan, Rome, Avignon, Bruges, London and Lyons. The Family also established good ties with the Church as they were the bankers for the pope for many years. It wasn't until the late 1400's, nor until their expulsion from Florence in 1494 that the Medici lost most of their financial wealth and nearly all of their power.
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