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Political conflict did not, however, prevent the city's rise to become one of the most powerful and prosperous in Europe, assisted by its own strong gold currency. The "fiorino d'oro" of the Republic of Florence , or florin , was introduced in 1252, the first European gold coin struck in sufficient quantities to play a significant commercial ...
The House of Medici (English: / ˈ m ɛ d ɪ tʃ i / MED-itch-ee, UK also / m ə ˈ d iː tʃ i / mə-DEE-chee; [4] Italian: [ˈmɛːditʃi]) was an Italian banking family and political dynasty that first consolidated power in the Republic of Florence under Cosimo de' Medici and his grandson Lorenzo "the Magnificent" during the first half of the 15th century.
The idea of interest came about in Venice from Jewish bankers. The Medici’s were able to by-pass laws against interest by charging commission on converting different currencies. War bonds became popular in Florence and other Italian cities. Dutch merchants became rich by purchasing spices in the East Indies and trading them in Europe.
In 2013, Florence was listed as the second best world city by Condé Nast Traveler. [56] Manufacturing and commerce remain highly important. Florence is Italy's 17th richest city in terms of average workers' earnings, with the figure being €23,265 (the overall city's income is €6,531,204,473), coming after Mantua, yet surpassing Bolzano. [57]
The Medici became the town's leading family, a position they would hold for the next three centuries. Florence organized the trade routes for commodities between England and the Netherlands, France, and Italy. By the middle of the century, the city had become the banking capital of Europe and thereby obtained vast riches. [32]
The platform quickly expanded beyond college campuses, becoming the world’s leading social network. Zuckerberg’s wealth soared as Facebook grew, and his net worth passed a billion dollars in 2008.
By 1870 Italy was an economically backward and depressed area; its industrial structure had almost collapsed, its population was too high for its resources, its economy had become primarily agricultural. Wars, political fractionalization, limited fiscal capacity and the shift of world trade to north-western Europe and the Americas were key factors.
Ashley and Mary-Kate Olsen currently reside in New York City and are rarely ever spotted. The 31-year-old twins live a very private life and usually only attend public events such as the Met Gala ...