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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.
Increasingly, the trade was also passing through London and the ports of the South-West. By the 1360s, 66–75% of the export trade was in English hands and by the 15th century this had risen to 80%; London managed around 50% of these exports in 1400, and as much as 83% of wool and cloth exports by 1540. [4]
Trade flourished in Italy (albeit not united, but rather ruled by different princes in different city-states), particularly by the 13th century. Leading the trade in Mediterranean Europe were traders from the port cities of Genoa and Venice. The wealth generated in Italy fueled the Italian Renaissance. Main trading routes of the Hanseatic League
The road system was adequate for the needs of the period, although it was significantly cheaper to transport goods by water. [234] The major river networks formed key transport routes, while many English towns formed navigable inland ports. [235] For much of the Middle Ages, England's climate differed from that in the 21st century.
Britain was a top importer of foodstuffs, raw materials, and finished goods, much of which were re-exported to Europe or the United States. [110] In 1880 Britain purchased about half the world total in traded tea, coffee, and wheat, and just under half of the world's meat exports. [111]
A triangular trade occurred in this period: between Africa, North and South America, and Europe; and it worked in the following way: Slaves came from Africa, and went to the Americas; raw materials came from the Americas and went to Europe; from there, finished goods came from Europe and were sold back to the Americas at a much higher price.
Euro Zone inflation. The euro came into existence on 1 January 1999, although it had been a goal of the European Union (EU) and its predecessors since the 1960s. After tough negotiations, the Maastricht Treaty entered into force in 1993 with the goal of creating an economic and monetary union (EMU) by 1999 for all EU states except the UK and Denmark (even though Denmark has a fixed exchange ...
England in the High Middle Ages (1066 – c. 1216) England in the Late Middle Ages (c. 1216 – 1485) Scotland in the Middle Ages. Scotland in the Early Middle Ages (400–900) Scotland in the High Middle Ages (900–1286) Scotland in the Late Middle Ages (1286–1513) Wales in the Middle Ages. Wales in the Early Middle Ages (c. 383 – c. 825)