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6 Cards in this Set
- Front
- Back
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Fuggers of Augsburg
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Family which began as weavers, founding a business in a new type of cloth, and thus finding a larger market. Gradually, they began to expand what they dealt in, like spices, silks, etc. and then used their profits to invest in other businesses, especially mining. Then they became bankers, lending their money to Renaissance popes, Charles V, the Habsburgs in Germany and Spain, and the Portuguese trade with Asia.
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Medici of Florence
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Banking family in Italy, similar to the Fuggers, who had extensive influence and wealth.
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Price revolution
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A steady rise in prices, due to the steady decline in the value of a given unit of money, created a gradual inflation.
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Commercial Revolution
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A name for the economic changes in Europe in the early modern period, and the name signifies the rise of a capitalistic economy and the transition from a town-centered to a nation-centered economic system.
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Bank of Amsterdam
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Attracted depositers because they knew their money was safe, would earn interest, and could be withdrawn at will.
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domestic system
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Also known as the "putting out" system; system where entrepreneurs, in order to avoid the restrictions of towns and guilds, would "put out" work to the people in the country, providing them with, for example, looms and other equipment.
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