Within 30 years, this small bank grew into one of the strongest, wealthiest, and the most important banks in all of Europe. With numerous branches all over Europe they were able to influence the economy of Europe while amassing personal wealth and power. With their large fortune, they spent lavishly on art and architecture propelling the progress of Europe as they did their own. Under the leadership of Cosimo, great painters such as Ghiberti, Brunelleschi, Donatello, Alberti, Fra Angelico, and Ucello were commissioned to produce some of the world’s greatest art masterpieces. Cosimo was influential in making Florence the cultural center of Europe and the birthplace of Humanism. Today the throngs of tourists who flock to admire the beauty of Florence owe their pleasure to the Medici involvement in the structure of the city. This paper has attempted to demonstrate that through the unique organization and structuring of the Medici Bank, great fortunes were made and lost but without a doubt, the Medici created the unique and effective banking system that the world had seen in the 15th
Within 30 years, this small bank grew into one of the strongest, wealthiest, and the most important banks in all of Europe. With numerous branches all over Europe they were able to influence the economy of Europe while amassing personal wealth and power. With their large fortune, they spent lavishly on art and architecture propelling the progress of Europe as they did their own. Under the leadership of Cosimo, great painters such as Ghiberti, Brunelleschi, Donatello, Alberti, Fra Angelico, and Ucello were commissioned to produce some of the world’s greatest art masterpieces. Cosimo was influential in making Florence the cultural center of Europe and the birthplace of Humanism. Today the throngs of tourists who flock to admire the beauty of Florence owe their pleasure to the Medici involvement in the structure of the city. This paper has attempted to demonstrate that through the unique organization and structuring of the Medici Bank, great fortunes were made and lost but without a doubt, the Medici created the unique and effective banking system that the world had seen in the 15th