Medieval Economy: Agriculture, Trade, and Social Change

1. Agricultural Production and Population Growth

• Expansion of farmland (deforestation, drainage of wetlands).
• Introduction of the three-field crop rotation system.
• Technological advancements: heavy plow, irrigation, windmills, watermills.
• More food → fewer famines → population growth → increased demand for goods → rise of craftsmanship and trade.

2. Growth of Trade and Finance

• Increased commercial transactions → emergence of banks and moneylenders.
• Money exchange houses due to different currencies.
• Use of written contracts and the rise of bills of exchange (14th century).

3. Guilds and the Apprenticeship System

Guilds: Associations of craftsmen in the same trade.

Advantages: Protected their members, regulated prices and quality.

Disadvantages: Closed market, no free competition.

Hierarchy:

• Apprentice: Worked without salary to learn.
• Journeyman: Earned wages but could not own a workshop.
• Master: Owned a workshop, had to create a masterpiece to reach this status.

4. Migration to Cities and the Rise of the Bourgeoisie

• Surplus agricultural production → fewer peasants needed → migration to cities.
• A serf who lived in a city for one year became free from their feudal lord.
• Bourgeoisie: Inhabitants of medieval cities.

5. Education and Culture

Urban Schools:

• Cathedral schools (controlled by bishops).
• Municipal schools (controlled by city councils).
• Universities emerged from these schools (e.g., Palencia, 1212).

Minstrels and jugglers: spread culture through music and performances (similar to social media today).

6. Monarchical Power and Conflicts

• Kings strengthened their power through tax collection and standing armies.
• Universities produced more experts in Roman law, giving kings more authority.
• Conflicts over inheritance (e.g., Hundred Years' War), territorial disputes, and power struggles between nobles and monarchs.

7. Agricultural Crisis and Peasant Revolts

• Soil exhaustion and flooding issues → poor harvests.
• Food shortages → higher prices → hunger and malnutrition.
• Kings forced peasants into wars → peasant revolts for better wages and conditions.

8. Black Death and Social Reactions

People panicked → violence against Jews, flagellants traveling across Europe seeking God's forgiveness.