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The economics of English towns and trade in the Middle Ages is the economic history of English towns and trade from the Norman invasion in 1066, to the death of Henry VII in 1509. Although England's economy was fundamentally agricultural throughout the period, even before the invasion the market economy was important to producers.
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The trade was dominated by the Merchants of the Staple who, from 1363, had been granted the exclusive right to trade raw wool in Calais. The English system remained in place for nearly two centuries, though it would decline in importance as exports of finished cloth were substituted for exports of raw wool.
Norman institutions, including serfdom, were superimposed on an existing system of open fields and mature, well-established towns involved in international trade. [2] Over the five centuries of the Middle Ages, the English economy would at first grow and then suffer an acute crisis, resulting in significant political and economic change.
London was the major trade centre in England for silk during the Middle Ages, and the trade enjoyed a special position in the economy amongst the wealthy. [2] A typical mercery business was family-run, consisting of a mercer, wife, their family, servants, and apprentices.
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[2] The trade's liveliest period, 1250–1350, was 'an era when trade in wool had been the backbone and driving force in the English medieval economy'. [3] The wool trade was a major driver of enclosure (the privatisation of common land) in English agriculture, which in turn had major social consequences, as part of the British Agricultural ...
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