The House of Medici was an Italian banking family, political dynasty, and later royal house in Florence who were the major sponsors of art and architecture in the early and High Renaissance. Alum was very important to the Medic because it was needed in the textile industry and the Medici had a near monopoly on its trade. [5] Under his leadership, Florence became the cultural center of Italy and much of Europe, a truly great city of the golden age of the Renaissance. This led many city-states to become a flourishing educational and cultural center. The increase in trade during the early Renaissance enhanced these characteristics. Marco Polo was the most famous Venetian merchant. Jutting out deeply into the Mediterranean Sea, the country occupies a position of strategic importance, enhancing its trading potential not only with eastern Europe but also with North Africa and the Middle East. The Sforza rule over Milan occurred from 1450 to 1519 and was the city-state’s height during the Renaissance. Create your own unique website with customizable templates. What was one reason Italian trade grew during the Renaissance? In fact, the center of the Italian Renaissance shifted from Florence to Rome … In the late 1360s, Francesco Petrarch … Trade in Florence was more or less dominated by the Medici family. Trading ships brought goods to England, Scandinavia, and present-day Russia. The Renaissance in the city-state of Rome began in the early 15th century during a time of relative peace. Even before the Renaissance, Venice had already been trading with the Islamic world as early as the ninth century, and continued to in the sixteenth century. To Black Death spread to Italy from modern-day Russia. Fine Art Columbus had set out to sea to discover the unknown with an idea of finding a route to Asia to trade for spices, gold and pearls yet the three ships that he led went off track and ended up in America also known as the New World. (Which was illegal at this time because the Pope saw any act of usury as a sin.) The city was the most important commercial center in Italy, although it had competitors such as Amalfi and later Genoa. The population of Italy was ill prepared for the spread of the disease. cultural movement of the Renaissance based on the study of classical works What made the Italian City-States unique and important, compared to other European cities, during the Renaissance Period? They could afford to help make their cities more beautiful. During the Renaissance groups of guild members, called boards, often ruled Italian city-states. Trade made the Italian city-states wealthy. The philosophy of the Italian Renaissance that focused on worldly subjects and believed that education should stimulate creativity was known as _____. As trade in goods increased, trade in ideas grew also. Italy comprises some of the most varied and scenic landscapes on Earth, and its more than 3,000-year history has been marked by episodes of … The decline of feudalism and the rise of cities influenced each other; for example, the demand for luxury goods led to an increase in trade, which led to greater numbers of tradesmen becoming wealthy, who, in turn, demanded more luxury goods. The fact that Florence was so rich,… This allowed art and other Renaissance pursuits to flourish in the Italian city-state. During the Italian Renaissance, there were few nations or states that could come close the advanced level of commerce the Italian city-states achieved. Once painted at the margins of a frame, they move to the center. The trade of Venice helped to create the prosperity that was essential for the Renaissance. Trade in Florence was more or less dominated by the Medici family. Although largely hidden from history, slaves were a significant but largely unrecognised class in Medieval Italy. Milan, Venice, and Florence were able to conquer other city-states, creating regional states. These were located along the coast, as to be able to trade with other lands near Italy, as well as anyone who sailed through the Mediterranean to Italy. Many modern practices were also used by the Medici banks, such as loaning money to a merchant and charging interest. During the middle ages people traded goods for other goods. Trade brought many new ideas and goods to Europe. Slaves in Italy are mostly domestic servants and every wealthy family in the city have atleast one slave for household. Venice is a group of small islands in the northern Adriatic Sea. During the Renaissance people began using coins to buy goods which created a money economy. Many famous poets had belonged to this era like Ludovico Ariosto, Poliziano, Marsilio Ficino, Matteo Maria Boriardo and Luigi Pulci. What served to expand the supply of money and expedite trade during the Renaissance? Over time, some parts of the continent grew economically, while others declined. Genoa is known for their sea ports and trade. The Medici fortune was built by Giovanni di Bicci de Medici and his son Cosimo de Medici. Crafts people produced goods that merchants traded all over Europe. Italy has historically maintained active relations with eastern European countries, Libya, and the Palestinian peoples. Because so many people came to these cities, the people living there had many different cultures. letters of credit. globalEDGE - Your source for business knowledge, Renaissance Economies: Italian Trade Practices, David Livermore Cultural Intelligence Blog, Tradeology - International Trade Administration, VoxEU - Centre for Economic Policy Research, WebPort Global International Trade and Global Business Blog, Michigan State The city after the Crusades and the capture of Byzantium was the major commercial power in the region. Renaissance Italy had some of the most powerful, influential merchant families in history. The Netherlands was the last to begin exploration in the New World. ... the Crusades established many trade routes with the East. Many became patrons and provided new buildings and art; they helped found universities. Renaissance Europe had a very diverse economy, in which many different goods were produced by various regions. Italian writers and poets had made several contributions to the world of literature during this period. Cosimo took the Medici family from just another rich banking family to one of the wealthiest most powerful families in Europe. Because of him, Venetian merchants had access to an extensive array of goods. It was the expansion of civilization from the dark, violent middle ages into a modern society with advancements in all arts and sciences. The Medici banks very closely resembled modern banks. Italian city-states like Venice and Genoa were located on the trade routes that linked the rest of western Europe with the East. The main currency during the Renaissance was the florin, and this coin originated in Florence but was widely accepted throughout Europe. The increase of trade led to a new kind of economy. Genoa name is also known as Genova in Italian and Genua in ancient Latin. The plague was carried and spread by the fleas that lived on the Black Rat and brought to Italy on the Genoese ships. Italy’s port cities connected Europe with Asia, the Middle East, and Africa and experienced great success and economic growth at trade hubs. Italian city-states trading during the late Middle Ages set the stage for the Renaissance by moving resources, culture, and knowledge from the East. It became a new opportunity to show other cities and nations what they were good at so trade became very important. Genoa's name originated from its ancient name, Genua, a city supposedly founded by the two headed Roman god Giano, protector of ships and coins. Trading ships brought goods to England, Scandinavia, and present-day Russia. However, with the Bubonic Plague in 1348, the birth of the English woolen industry, and general warfare, Italy temporarily lost its economic advantage. Humanism. In the current exhibition Revealing the African Presence in Renaissance Europe, which runs from now until June 9, 2013 at the Princeton University Art Museum, Africans are much more than “present.”They appear, disappear, and appear again. Some merchants and bankers grew very rich. Florence was richer than many even larger kingdoms in Europe. How did new trade routes and the Americas cause the Renaissance to decline in Italy? Sadly, for any European community living along the Mediterranean, slavery was a constant threat for anyone’s existence. 2 See answers ButtersnapsMcGee ButtersnapsMcGee New technologies were being developed and affluent people wanted to be in Italy because of the exciting progress that was going on there. During the Italian Renaissance, there were few nations or states that could come close the advanced level of commerce the Italian city-states achieved. During Renaissance, the fast growing Italian City-Estates demand for more slaves and was later on considered as the largest consumer of human slave. Trade slumped during the serious economic depression of the early 1300s and in the prolonged aftermath of many wet summers, the Black Death, and the Hundred Years’ War. Moneychangers were needed to covert one type of currency into another. The muslim slavers even made it as far north as Ireland. Cosimo took the Medici family’s financial power and with it, he built political power for the family. From Italy, major trade routes extended towards Portugal and Scandinavia that spread the ideas of the Renaissance as well … Some wealthy families gained long-term control; city-states were ruled by a single family, such as the Medicis. University. The Renaissance era in Italy is mainly famous because of the various achievements in art and culture. Towns  along trading routes provided inns and other services for traveling merchants. Due to its geographic location in northern Italy, it was able to control large portions of overland trade that occurred in the surrounding region. Very few merchants could tout being able to trade porcelain, exotic dyes, and gems. The Medici fortune was built by Giovanni di Bicci de Medici and his son Cosimo de Medici. These cities grew wealthy through trade with far away places such as Asia. For years the Dutch struggled to win their independence from Spain. Towns along trading routes provided inns and other services for traveling merchants. The Renaissance is generally accepted to have started in Italy. Italy began to decline as a Renaissance center by about 1500. Italian city-states like Venice and Genoa were located on the trade routes that linked the rest of western Europe with the East. Therefore, many craftspeople, merchants, and bankers became more important i society. A bustling economy created prosperous cities and new classes of people who had enough money to support art and learning. Geographical and historical treatment of Italy, including maps and a survey of its people, economy, and government. The Italian Renaissance was a period during the 14th to 17th centuries where culture reached great heights of craftsmanship and meaning. Byzance had been a major client during the Middle Ages but was not doing that well during the … The economy of Renaissance Italy is incredibly interesting. Italian … In the 14th century, just as the Italian Renaissance was beginning, Italy was the economic capital of Western Europe: the Italian States were the top manufacturers of finished woolen products. Trade grew between cities/states and other countries. Christopher Columbus was a famous explorer and navigator born in the Republic of Genoa, Italy in 1451. The Medici family had many branch banks including locations in Venice, Geneva, London, Avignon, and Bruges. Several scholars have discussed the impact of these factors on European development as well as on the world’s steps toward capitalism and globalization. There were 80 banks! There had been a series of famine and food shortages in the region, and the population … Giovanni founded the Medici Bank and after he died his son Cosimo took control of the Bank. The Medici Bank was not actually one single bank but it often refers to the network of branches that the Medici family set-up. The ‘Serene Republic’ and its fleet of trading ships allowed Italian states to export their wares and products. Bankers exchanged currency, loaned money, and financed their own business. The discovery of America and, more broadly, the European expansion to other continents are the major events characterizing the trade networks of the Renaissance. Not only did the city grow wealthy, but it greatly boosted the economy of other Itali… Merchant trade in commodities that the bank sponsored include wool, silk, and most notably alum. Thus, during the later years of the Middle Ages, northern Italy flourished economically and intellectually. He established trade routes that connected Venice to all of Asia. The wealth that was accumulated as a result of the flourishing trade was often spent on artwork or new buildings. This was a large part of why the Medici family became so successful. Venice was another great international trade power during the Renaissance. Both these city-states became bustling trading centers. Genoese merchants spread the plague while fleeing a Mongol attack on their trading post in Crimea. Italy's location on the central Mediterranean placed its cities in the middle of the trade routes. The Renaissance was a rebirth of Classical thought and ideas in Western Europe. Genoa is one of the 4 biggest trading cities during the Renaissance. These families’ trade practices influenced the growth of global economies and built a foundation for our current trade practices. The Dutch realized that Spain might be weakened by striking at its trade. The Medici family also often dabbled in supporting merchant’s trade endeavors. In the 1300s and 1400s Italy dominated European trade and manufacturing. During this struggle, Spain in 1580 annexed Portugal and gained control of the Oriental trade. Because of its unique location, Venice was reliant upon maritime trade. The contact between cultures was in some part due to the Crusades during the 11th century. During this time, the city prospered economically specifically in both silk and wool trade. Both these city-states became bustling trading centers. Florence was a very wealthy city, and that made the city a banking center. During the 1200s, trade between Egypt, Syria, Southeast Asia, Iran and China was present, especially with their trade of spices, grain, wine, and salt. Commerce and trade soon moved inland along the major routes of trade. So the Italian merchants chiefly traded with Egypt during the Renaissance. Italy - Italy - Trade: Italy has a great trading tradition.