review of section 4

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review of section 4

Post  Brock M. Hay on Sun Mar 18, 2012 6:14 pm

Well since we just finished our last section of the early middle ages I decided to make a review for those students who decided that they didn't want to listen in class. We just discussed these topics for a first time so it would make good use to read this just to help cement the topics and ideas of the section. Please bare with me if I don't over EVERYTHING from the section, I already did this entire post once, but then my internet decided to not work and delete my post as I attempted to submit it, sorry if I didn't feel like taking a whole extra hour and a half to do the post AGAIN. So basically by the 800s Europe underwent a agricultural revolution boosting technology and economy for the first time in centuries. The technology began by basing completely around agriculture,(hints agricultural revolution). More iron and metal products were being made and eventually metal plows were made, ad soon enough horses would be used to pull them instead of oxen. Metal plows could enter the soil much deeper, they also lasted longer. Horses are much faster than oxen, therefore much more land can be used. Also to increase power of mills windmills were created. All this extra money went to improve the land, peasants were sent on projects to clear forests or make land fertile for farming. A result of both the regrowth of population and the excessive flow of money lead to the revival of trade. Soon enough feudal powers wanted the best equipment, weapons, technology, and the most beautiful art from around Europe, Asia, and North Africa. The first trades took place around Europe *** trade fairs where merchants of varied professions would set up and travelers from afar would come to buy perhaps what they lack from their own dwellings. Soon enough trade became so common in areas that people of various professions just stayed there, thus creating towns, and after gaining more and more citizens the first cities since the Roman empire. These towns got very organized, merchants would typically have a Charter, or contract regulating rules and rights between the merchants and those who controlled the towns. Many modern business practices developed in this time like partnership, and bills of exchange, which lead to the use of the first form of banking with money traders. eventually after all of these changes that took place formed a middle class. The rich did not like this formation, they thought that those who are not to the rank of a noble or lord should remain in poverty as it always was, so they tried many laws and taxation purposes to place the middle class back into poverty. Funny, this sounds a lot similar to what is happening in the US today. In towns and cities eventually guilds formed, this made trade, finances, and work load easier for both the customers and the members of the guild. There were also guilds that were exclusive to women, psshh what can one do about the frantic feminists? The reason why many European or Medditeranean cities are surrounded by walls today is because they were formed in the middle ages and use gigantic walls to protect them. I hope this review helped!
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Brock M. Hay
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Bill of exchange

Post  LauraNoaBassano on Thu Mar 22, 2012 3:50 pm

Good job Brock! Smile Your post is great and it really helped me. You have really good points! cheers

One of the many important advancement in business, during the Middle Ages is the bill of exchange.
Thanks to this advancement, a person could deposit money in a bank (usually the nearest to the place where this person lived).
After this person gave his money to the bank, the banker issued a ''bill of exchange'', which gave the possibility to the owner of the money to exchange that with cash. It was really useful for merchants, they had in fact to travel a lot, and really often with golden coins. After this advancement, the money stolen became less. Smile

The system of exchange is still used in almost every part of the world, even if it was developed in a better way.
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