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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]
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.
The United Kingdom did not seek to adopt the euro as its official currency for the duration of its membership of the European Union (EU), and secured an opt-out at the euro's creation via the Maastricht Treaty in 1992, wherein the Bank of England would only be a member of the European System of Central Banks. United Kingdom opinion polls showed ...
Thereafter the United Kingdom's relative economic performance improved substantially to the extent that, just before the Great Recession, British income per capita exceeded, albeit marginally, that of France and Germany; furthermore, there was a significant reduction in the gap in income per capita terms between the UK and USA. [7]
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)
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
Middle Ages c. AD 500 – 1500 A medieval stained glass panel from Canterbury Cathedral, c. 1175 – c. 1180, depicting the Parable of the Sower, a biblical narrative Including Early Middle Ages High Middle Ages Late Middle Ages Key events Fall of the Western Roman Empire Spread of Islam Treaty of Verdun East–West Schism Crusades Magna Carta Hundred Years' War Black Death Fall of ...