In the 15th century, The Medici Family became “Europe’s greatest banking dynasty.” Once wealthy textile merchants, the Medici Family used their wealth to become dukes of Florence and eventually held positions of four popes and two French regents. In 1397, the family established a financial institution called The Medici Bank, which became the largest bank in Europe. Furthermore, the Medici introduced the idea of lending and as Ferguson argues, the “decentralization of their lending and reaching out internationally was the key to their rise.” As the wealthiest family in Europe, The Medici Family not only represents a social climb, but also how banking expanded markets and quest for imports, which created the foundation for the rise of consumption.
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This system involved the transportation of fine consumer goods that were in great demand and also, slaves, who cultivated sugar and extracted silver on plantations. These slaves were transported across the Atlantic to mine American silver, which was then used in Europe to purchase Chinese goods. Additionally, since the demand for sugar and silver spiked in America and Europe, the exportation of slavery also experienced a spike. The Triangle Trade illustrates how demand to consume exported goods within these regions cultivated the slave trade and eventually created The Bambara Kingdom, “an enormous machine to produce …show more content…
Sugar is one specific drug food that was initially viewed as an elite spice because of its high price point, but eventually dropped due to the increase in sugar production and slave labor. Additionally, Queen Elizabeth’s black teeth due to sugar consumption and the emergence of sugar-made decorative table settings supported sugar’s elite commodity perception. However, in the 17th century, sugar became increasingly available and thus became the basis for the merchant class’s growing fortune. By the 19th century, sugar had transformed into an everyday good, making its way into every cup of workers’
This system involved the transportation of fine consumer goods that were in great demand and also, slaves, who cultivated sugar and extracted silver on plantations. These slaves were transported across the Atlantic to mine American silver, which was then used in Europe to purchase Chinese goods. Additionally, since the demand for sugar and silver spiked in America and Europe, the exportation of slavery also experienced a spike. The Triangle Trade illustrates how demand to consume exported goods within these regions cultivated the slave trade and eventually created The Bambara Kingdom, “an enormous machine to produce …show more content…
Sugar is one specific drug food that was initially viewed as an elite spice because of its high price point, but eventually dropped due to the increase in sugar production and slave labor. Additionally, Queen Elizabeth’s black teeth due to sugar consumption and the emergence of sugar-made decorative table settings supported sugar’s elite commodity perception. However, in the 17th century, sugar became increasingly available and thus became the basis for the merchant class’s growing fortune. By the 19th century, sugar had transformed into an everyday good, making its way into every cup of workers’