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Economic Development During Renaissance The Renaissance is an era about which there is much disagreement among historians. Some portray it as a significant era of triumph in human development, while others claim that the term is nearly meaningless and the whole concept should be abandoned. However all agree that Renaissance was the era, during which the cultural, economic, social, and humanistic development experienced its fastest growth. In this paper I will try to present the most significant factors of economic development, which had its impact not only on the Renaissance but also on the further years to come.
When starting to examine the economic development of Renaissance period we must first of all note the overall shift of the humankind understanding. Without this change in the way of society's thinking and perceiving no economic development could start. It is during Renaissance when the foundation for the modern capitalism was placed. Society today is based upon principles that promote a strong work ethic that buys us comfort and satisfaction.
Fundamentally, when comparing two different economies such as the Renaissance economy with the economy of medieval Europe, the main representation must be expressed through understanding the life and mentality of the average worker. In an economy based on necessity (which in our case is medieval age economy), life is without luxury. There is neither a significant surplus of physical product nor is there a surplus of material holdings or wealth. On the contrary, a society of Renaissance is based on entrepreneurship and the drive of the individual to reach a peak of financial wealth; in other words, there is a potential for prosperity as means of obtaining comfort and familial stability (Chastel 47).
The current free market concept can be traced all the way back to the age of mercantilism in the time of European Renaissance. Once the feudal system broke up in Europe, there was a rise in international trade as well as agricultural prosperity that resulted in surpluses. The main reason for this trade opening was that travel routes were open during the Crusade movement. New geographical discoveries (America, Australia, new ways to Asia) provided new opportunities for trade. The appearance of new products and ideas in the European market increased the overall demand of the people for many things, of which Europeans had never known before.
Besides the growth of the trading sector of economic life has caused the appearance of complicated financial relationships between traders, and, eventually, financial models and institutions, which supported them. These merchants were not necessarily considered by royalty to be high class, but many of them were quite wealthy. From this merchant ethic evolved what we know now as a free market. It might send strange but modern banking system appeared during Renaissance period.
The generation f nn-production related print through interest is actually a Renaissances development in man's economic history. In the early fourteenth period, Flrence's textile industry and its successful banking catapulted the city-state int the fremont f European enterprise and, eventually, int the Italian Renaissance. Significant private international banking and commercial ventures provided the foundation fr many fortunes. Flrence in particular is well known fr being the less f an extraordinary array f rganizatinal and technical inventions that changed the direction f Western history. Modern society wes Flrence fr the development f such economic nations as bills f exchange, my markets, insurance, double-entry being, and limited liability partnerships (Lemaitre, Lessing, 97).
T many scholars, the Renaissance, however, was mainly a great accelerate f the trends f the 13 th century. The first banks may being t the middle Ages, but the first banks f nte being t the 14 th. The ther innovations f capitalism likewise may have sorted in earlier times but they came t fruit in the Renaissance. Mst f scholars think f this time as an era f admin and elaboration. The verbal shift f social life fcu's frm church, Gd, and afterlife during medieval age t mre secular humans and life n earth during Renaissance priced an intense development f different aspect f human living, which subsequently caused economic growth and development. The greatest economic innovation f this time at first lks mre like technology than ecnmic's.
In the 15 th century the Eurpeans learned t make lng can ages fr print. While ther civilizations had built navies and sailed wide can, they either sailed fr political purposes r else did nt maintain their efforts fr very lng. It takes sophisticated naval technology t sail in pen waters fr weeks at a time, and even mre skill t d s and make my at it. It als requires an economic system back hme able t absorb and reward the risks; in ther wrd's, it takes merchants as well as sales. Tls developed in the Middle Ages fr explain continued t be used during the Renaissance. ne f these was the astrolabe, a portable device used by sales t help them find their way.
By measuring the distance f the sun and stars are the horizon, the astrolabe helped determine latitude, an important tl in navigation. Anther tl, the magnetic class, which had been invented in the twelfth century, was improved upn during the Renaissance. Maps, t, became mre reliable as Portuguese map makers, called cartographers, incorporated information provided by travelers and express int their wrk. Shipbuilding als improved during the Renaissance, as large ships called gallen's became can. These ships were powered by sail rather than by men using ars (The 114).
Although navigation was still an imprecise science, sales were able t g farther than they had before. This was important because as the economy f the Renaissance continued t improve, there were ever-increasing demands fr imported gds and new places t expert local products. The Renaissance said first tk t the seas t supply Eurpeans with the many Asian spices they demanded. Peppercrns, nutmeg, mace, and cinnamon all came frm lands t the east. Als frm the East came previous gems and fine silk, a fabric especially such after fr when's clothing. Investors free paid these trading ages fr.
This was the great economic advance f the Renaissance: the creating f the means t exploit vast new markets. It was ne f the key develpment's that demarcate the Middle Ages frm modern times, fr nt nly did explain pen new markets, it peter up paths f clnizatin and conquest as well, with lasting effect n a global scale buildings, which were mre economical and practical frm many perspectives, replaced the spiritual types f constructing. The new buildings were mre accommodated fr future growth and upgrading. The new type f constructing appeared. The warehouse area, purpose fr rent t merchants, copied the first flr, and are, n the send flr, were the rms where the were f the huse lived (Ackerman 141). Though the Renaissance had most of its affect on the development of global culture and humanity, it also posed a great impact on the economic aspect of living.
Bibliography: Ackerman, James S. Distance Points: Essays in Theory and Renaissance Art and Architecture. Cambridge: MIT, 1991. Chastel, Andre.
The Renaissance. 1430 - 1620. Paris: Flammarion, 1994. Lemaitre, Alain J. and Erich Lessing. Florence and the Renaissance: The Quattrocento. Paris: Terrain, 1993.
Tozer, H. F. , A History of Ancient Geography, 1897, reprinted New York: Bible and Taken, 1964.
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Research essay sample on Economic Development During Renaissance
