What type of economy developed during the renaissance

Trade in the Renaissance It was the East-West trade that brought wealth to Venetian merchants: from the East, spices, silk, cotton, sugar, dyestuffs, and the alum needed to set colours; from West, wool and cloth. Exploration and Trade Although navigation was still an imprecise science, sailors were able to go farther than they had before.

This was important because as the economy of the Renaissance continued to improve, there were ever-increasing demands for imported goods and new places to export local products. Encyclopedia: Renaissance Economy and Trade During the Renaissance, the European economy grew dramatically, particularly in the area of trade. Developments such as population growth, improvements in banking, expanding trade routes, and new manufacturing systems led to an overall increase in commercial activity.

Trade: The Renaissance The areas of Europe to the west of the Adriatic Sea and the Elbe River were changing from the more subsistence- oriented economy of the early Middle Ages to a money economy, from an economy based in good measure on home-grown produce paid for in kind to one relying heavily on imports paid for in money or letters of credit.

Active History Username for offsite access : presvic Password for offsite access : elgar Classtools. Cities and Statecraft in the Renaissance looks at the rise of trade, commerce, guilds, and the merchant and ruling classes in northern Europe.

This influenced the growth of towns, cities, states, and regions, who competed with one another for power, artistic talent, and creativity. At the same time, people rich and poor were struggling to establish new forms of society and government. The Renaissance by James A. Corrick Dewey number: Historical atlas of the Renaissance by Robert Ritchie Dewey number: See entries under 'Trade' in the index. The atlas of the Renaissance world by Neil Grant Dewey number: See pages for section on trade, banking and agriculture.

Carnagie Editor Dewey number: R This was a large part of why the Medici family became so successful. Merchant trade in commodities that the bank sponsored include wool, silk, and most notably alum. Alum was very important to the Medic because it was needed in the textile industry and the Medici had a near monopoly on its trade.

Venice was another great international trade power during the Renaissance. Venice is a group of small islands in the northern Adriatic Sea. Because of its unique location, Venice was reliant upon maritime trade. Marco Polo was the most famous Venetian merchant. He established trade routes that connected Venice to all of Asia. Because of him, Venetian merchants had access to an extensive array of goods.

Very few merchants could tout being able to trade porcelain, exotic dyes, and gems. Renaissance Italy had some of the most powerful, influential merchant families in history. Author: Andrew Good. Share this article.