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UNC-Chapel Hill HIST 158 - Capitalism and Economic Expansion

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HIST 158 1st Edition Lecture 7 Outline of Last LectureI. Breakthroughsa. Florencei. Craftsmanshipii. Perspectiveiii. Architectureb. Romei. High Renaissanceii. Patronage and PatronsOutline of Current LectureI. Capitalism and Economic Expansion a. Shift of productionb. Specialized citiesc. Discovery and Exploration of the worldd. Economic Expansion in Europee. Traditional Morality v. CapitalismCurrent LectureI. Capitalism and Economic Expansiona. 1460-1560: shift from craft mode of production to industrial/capitalist mode of productioni. As a result, class tensions surfaced over the control of the production processb. Cities became specializedi. Florence1. Banking- the Medici, Pazzi, Peruzzi families (began as tax collectors)These notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.2. Wool- enormous and complex industry (employed half of Florenceworkers)3. Ciompi- unguilded wool workersa. 1378 Revolt- majority of workers (ciompi) weren’t making their fair share of the profits, the revolt was successful at firstb. Soon after, Florence government shifted as it was converted from a Republic to a Despotic City (autocratic, run by one family)ii. Venice1. Streets are canals that connect the islands2. Shipbuilding on the arsenalea. Huge industry that required complex skills3. Venice began as a fishing village  merchant republic (not noble by birth)  oligarchy of a few elite families (success derived from commerce)4. 1297 Serrata- closure; very successful; closed off the council of theruling upper classa. Only 2 rebellions following the Serrata:i. External- people tried to open the council back upii. Internal- member of the oligarchy declared himself king5. Why was the Republican system not sustainable?a. Revolt of the “popolo”b. By 1500, most republics had become Signone, ruled by a despotc. Reason: even though the excitement of the rebellions fueled the Renaissance, the cities needed stability in order to prosper. Stable democracies were difficult to maintainc. Discovery and Exploration of the Worldi. Portuguese voyages of exploration1. Along the coast of Africa2. To find gold3. Henry the Navigator (1394-1460) instigated4. Bypassed Italian merchants by retrieving spices directly from Africa5. Portuguese were successful in their endeavors and word quickly spreadii. Christopher Columbus (Italian)1. Thought he would find India but instead discovered a new continent2. Age of exploitation had begund. Economic Expansion in Europei. Colonial ventures in Spain, England and Dutch Republicii. Global trade required new exchange and banking techniques: the Bill of Exchange was created1. Couldn’t trade without these bills 2. Similar to modern day checksiii. Stock markets were created to sell “risks”1. Further expanded economic enterprisesiv. Merchants were driving this expansion1. Economic version of Renaissance Men 2. Medici and Fuggers were prominent banking families3. Agricultural productivity also increasede. Traditional Morality v. Capitalismi. Mixture of excitement and anxietyii. Large production enterprise clashed with traditional religious and aristocratic values1. Individuality v.


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