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 societys 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 Essay on Globalization & Development of economies
Globalization has been perceived as a beneficial factor in the development of economies, technological advancements as well as sociological and political development. However, not everyone gains from these benefits. Instead, other nations particularly the developing states are subjected to the dangerous effects of globalization. The truth about globalization is while the benefits may be enjoyed by ...
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 sund strange but mdern banking system appeared during Renaissance perid. The generatin f nn-prductin related prfit thrugh interest is actually a Renaissances develpment in man’s ecnmic histry.
In the early furteenth perid, Flrence’s textile industry and its successful banking catapulted the city-state int the frefrnt f Eurpean enterprise and, eventually, int the Italian Renaissance. Significant private internatinal banking and cmmercial ventures prvided the fundatin fr many frtunes. Flrence in particular is well knwn fr being the lcus f an extrardinary array f rganizatinal and technical inventins that changed the directin f Western histry. Mdern sciety wes Flrence fr the develpment f such ecnmic ntins as bills f exchange, mney markets, insurance, duble-entry bking, and limited liability partnerships (Lemaitre, Lessing, 97).
The Essay on Humanism And The Renaissance 2
Founded on the ideals of Italian scholar and poet Francesco Petrarca during the late fourteenth century, Renaissance humanism centered itself on humanity’s potential for achievement. Although God is credited for creating the universe, human beings are the ones credited for developing and sustaining it. The shift was away from understanding the world through faith and towards a broader ...
T many schlars, the Renaissance, hwever, was mainly a great acceleratr f the trends f the 13th century. The first banks may belng t the middle Ages, but the first banks f nte belng t the 14th. The ther innvatins f capitalism likewise may have spruted in earlier times but they came t fruitin in the Renaissance. Mst f schlars think f this time as an era f adptin and elabratin.
The verall shift f scial life fcus frm church, Gd, and afterlife during medieval age t mre secular humans and life n earth during Renaissance prvked an intense develpment f different aspect f human living, which subsequently caused ecnmic grwth and develpment. The greatest ecnmic innvatin f this time at first lks mre like technlgy than ecnmics. In the 15th century the Eurpeans learned t make lng cean vyages fr prfit. While ther civilizatins had built navies and sailed wide ceans, they either sailed fr plitical purpses r else did nt maintain their effrts fr very lng. It takes sphisticated naval technlgy t sail in pen waters fr weeks at a time, and even mre skill t d s and make mney at it. It als requires an ecnmic system back hme able t absrb and reward the risks; in ther wrds, it takes merchants as well as sailrs. Tls develped in the Middle Ages fr explratin cntinued t be used during the Renaissance. ne f these was the astrlabe, a prtable device used by sailrs t help them find their way.
By measuring the distance f the sun and stars abve the hrizn, the astrlabe helped determine latitude, an imprtant tl in navigatin. Anther tl, the magnetic cmpass, which had been invented in the twelfth century, was imprved upn during the Renaissance. Maps, t, became mre reliable as Prtuguese map makers, called cartgraphers, incrprated infrmatin prvided by travelers and explrers int their wrk. Shipbuilding als imprved during the Renaissance, as large ships called gallens became cmmn. These ships were pwered by sail rather than by men using ars (Tzer 114).
Althugh navigatin was still an imprecise science, sailrs were able t g farther than they had befre. This was imprtant because as the ecnmy f the Renaissance cntinued t imprve, there were ever-increasing demands fr imprted gds and new places t exprt lcal prducts. The Renaissance sailr first tk t the seas t supply Eurpeans with the many Asian spices they demanded. Peppercrns, nutmeg, mace, and cinnamn all came frm lands t the east.
The Term Paper on The Views Of Renaissance Or The World When It
The views of Renaissance or " the world when it was half a thousand years younger.1 The Late Middle ages are viewed by the historian as period of decline and stagnation, but at the same time this period was also the birth of cultural and intellectual rebirth Renaissance. The Renaissance started in the twelfth century in the cities of northern Italy, where scholars and noblemen became more ...
Als frm the East came precius gems and fine silk, a fabric especially sught after fr wmen’s clthing. Investrs ften paid these trading vyages fr. This was the great ecnmic advance f the Renaissance: the creatin f the means t explit vast new markets. It was ne f the key develpments that demarcate the Middle Ages frm mdern times, fr nt nly did explratin pen new markets, it pened up paths f clnizatin and cnquest as well, with lasting effect n a glbal scale buildings, which were mre ecnmical and practical frm many perspectives, replaced the spiritual types f cnstructins. The new buildings were mre accmmdated fr future grwth and upgrading. The new type f cnstructins appeared.
The warehuse area, purpsed fr rent t merchants, ccupied the first flr, and abve, n the secnd flr, were the rms where the wners 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: Terrail, 1993. Tozer, H.F., A History of Ancient Geography, 1897, reprinted New York: Biblo and Tannen, 1964..
