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The volume explores late medieval market mechanisms and associated institutional, fiscal and monetary, organizational, decision-making, legal and ethical issues, as well as selected aspects of production, consumption and market integration. The essays span a variety of local, regional, and long-distance markets and networks.
A collection of Professor Postan's major essays on medieval trade and finance.
One of the first volumes to explore the intersection of economics, morality, and culture, this collection analyzes the role of the developing monetary economy in Western Europe from the twelfth to the seventeenth century. The contributors”scholars from the fields of history, literature, art history and musicology”investigate how money infiltrated every aspect of everyday life, modified notions of social identity, and encouraged debates about ethical uses of wealth. These essays investigate how the new symbolic system of money restructured religious practices, familial routines, sexual activities, gender roles, urban space, and the production of literature and art. They explore the complex ethical and theological discussions which developed because the role of money in everyday life and the accumulation of wealth seemed to contradict Christian ideals of poverty and charity, revealing a rich web of reactions to the tensions inherent in a predominately Christian, (neo)capitalist culture. Money, Morality, and Culture in Late Medieval and Early Modern Europe presents a comprehensive, multi-disciplinary assessment of the ways in which the rise of the monetary economy fundamentally affected morality and culture in Western Europe.
This is a full-scale study that explores every aspect of money in Europe and the Middle Ages.
This is the first comprehensive study of loans and debts in Central European countries in the Middle Ages and Early Modern Period. It outlines the issues of debts and loans in the Czech lands, Poland and Hungary, with respect to the influence of Austria and Germany. It focuses on the role of loans and debts in medieval and early modern society, credit markets in these countries, the mechanism of lending and borrowing, forms of credit, availability of loans, frequency of credits dealings, range of lending business, and last, but not least, the financial relationships inside the social classes and between them. The research presented in the book is based on a wide range of resources including credit contracts and agreements, evidence of loans and debts of courts, accounting of nobility, towns, churches and guilds, merchant diaries and Jewish registers, as well as other financial records. It covers a wide range of historical disciplines including economic and financial history, social history, the history of economic thought as well as the history of everyday life. It also contains a wealth of case studies, which offer, for the first time in English, a comprehensive and representative sample of the most up-to-date Central European research on the history of loans and debts and serves as a basis for a comparison with the other parts of Europe during the same period. The book is designed primarily for postgraduates, researchers and academics in financial, economic and historical sciences but will also be a valuable resource for students of business schools.
This book challenges the notion that economic crises are modern phenomena through its exploration of the tumultuous ‘credit-crunch’ of the later Middle Ages. It illustrates clearly how influences such as the Black Death, inter-European warfare, climate change and a bullion famine occasioned severe and prolonged economic decline across fifteenth century England. Early chapters discuss trends in lending and borrowing, and the use of credit to fund domestic trade through detailed analysis of the Statute Staple and rich primary sources. The author then adopts a broad-based geographic lens to examine provincial credit before focusing on London’s development as the commercial powerhouse in late medieval business. Academics and students of modern economic change and historic financial revolutions alike will see that the years from 1353 to 1532 encompassed immense upheaval and change, reminiscent of modern recessions. The author carefully guides the reader to see that these shifts are the precursors of economic change in the early modern period, laying the foundations for the financial world as we know it today.
Money and Coinage in the Middle Ages presents an original and valuable set of studies into aspects of a critical but challenging category of material.
The identification of productive sites, mostly through the detection of coins, has increasingly shown how economic and cultural exchange went on not just in coastal ports, but at a myriad of other places, many of them inland.
The sixteen articles in this collection analyse the contribution made by overseas trade, and the wealth in coin which it created, to the development of the English economy and locate this in an European-wide setting. In time, they range from the late Anglo-Saxon period up to the advent of the Tudors. The papers include general surveys of the importance of coinage and credit in the rise and decline of a market economy, and of the way that credit functioned in a society that lacked reliable supplies of bullion and which was also subject to the scourges of warfare and devastating disease. They illustrate, too, how from the tenth century the English crown used its control and exploitation of the coinage as part of a sophisticated fiscal system which helped create the precocious power of the English state. The author further shows how the wool trade altered the geographical pattern of wealth and enriched peasants, landowners and merchants, while the competing interests involved in the trade also cause political conflicts in Parliament and in the government of London during the period when London was establishing itself as the political capital and the financial centre of the kingdom.
The importance of money as one of the key variables in the workings of the medieval economy is often overlooked. This new study first provides the reader with a background to the problems of modeling the medieval economy and the value of the Fisher equation of exchange to monetary historians, to the practical processes of striking coins from silver and gold acquired through foreign trade and to the importance of royal control over mints and exchanges. These theories are then used to analyze how money worked within the economy of the early, central, and late middle ages with fluctuations in the size of the circulating medium and the availability of credit acting as either a brake on or a stimulus to economic expansion. A full money economy did not emerge until c. 1300, but its existence and flexibility helped the economy survive the severe shocks of the late middle ages.