Print
Word
PDF|
This section contains 1,222 words (approx. 5 pages at 300 words per page) |
|
Economic Success and Political Influence of the Fuggers and Medicis
Summary: During the late fifteenth and early sixteenth centuries, considered the first economic Golden Age, both the Fugger family of Augsburg and the Medici family of Florence developed tremendous wealth and power. Both families conducted the practice of usury with regard to ecclesiastical affairs, drawing the ire of Martin Luther, and both easily influenced affairs of governance. Both also made positive contributions to European society, the Fuggers through their advances in accounting practices, and the Medicis for their part in the development of Humanism in Florence.
In the late fifteenth, and early sixteenth centuries the first economic Golden Age began. Two families, the Fugger's and Medici's were of immense wealth and power. Both helped to finance projects for certain people and institutions of power, like the Pope, English Monarchy and the Holy Roman Empire. Their economic success and political influence caused much turmoil then, and even more in the future. Because of the Fuggers' and Medici's wealth and power in society they easily influenced politics, especially ecclesiastical governance by usury and sale of indulgences.
In the early sixteenth century the Fugger family of Augsburg, was the wealthiest and most influential financial organization in Europe. They started making money by importing raw cotton from Mediterranean ports. The Fugger family then moved into more lucrative trades such as silk and herbs, controlling most of Europe's pepper market. "The Fuggers virtual monopoly on all gold, silver, and...
|
This section contains 1,222 words (approx. 5 pages at 300 words per page) |
|
