Week of Oct 5 - Medieval Capitalism

Week of Oct 5 - Medieval Capitalism - Week of Oct. 5...

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Week of Oct. 5 Medieval Capitalism What is the Medici Bank? Despotism the ruler yields absolute power. All power with one individual opposite of republics - 1434 Medici family came to power in Florence - In the republics the families would make decisions to benefit their financial interests - Medici not very rich at first but building business through politics, industries and banks and spreading through Rome and Naples - Cosimo ‘princeps’ (first citizen), very modest - Paid off the threat of exile in 1433 - Lorenzo de Medici (1449-1492) Spent all of the 4 including states dowry paid by citizens -Florence was broke - Two types of capitalism (mercantile capitalism and industrial capitalism) - Foreign trade was favoured over domestic trade - One of the large number of Florentine firms that engaged in international commerce and banking - Medici’s power was in their immense wealth, there wealth came from banking business - Family business - Dominated banking and commercial sector - Company’s main business was in foreign exchange, exchanged currencies
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This note was uploaded on 04/13/2011 for the course MOS 1803 taught by Professor Gogan during the Spring '10 term at UWO.

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Week of Oct 5 - Medieval Capitalism - Week of Oct. 5...

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