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Urbanization

Before the Crusades, life in Europe was centered on estates and feudalism, when the holy war began it shifted to prioritize trade and commerce in order to fund the war. This led to inflation of prices but overall increased the quality of life.

Guilds

Towns were formed as trade and commerce became a feasible form of livelihood. As the holy war went on, it became apparent that there was much to gain as people had more access to other societies. This in turn led to the forming of Guilds that standardized and regulated the trade practice

The Middle Class

Lending and borrowing in order to finance the trades and commerce stimulated the financial system which led to the formation of the first credit institutions. A new ‘middle class’ emerged as the result of this growth of the European economy.

Division of labor

Not so much as a ‘division’ but the formulation of new ones- the nobility had to sell their lands and personal belongings which benefitted lower and middle class. Peasants now experienced a higher demand for their products and the new middle class became tradesmen, financers and transportation providers.

Money/weights/measure systems

With the rise of new classes, there was a shift in the redistribution of wealth- the economic power of the Church shifted to the tradesmen and merchants. The emerging importance of trade and commerce resulted in the standardization of money, weights and the measuring system.

Usury

People began to sell their lands and belongings as a way to finance the cost of joining the Crusade, and most of the time, this wasn’t enough. They turned to Churches which were obligated to provide loans without interest due to Usury policies. This significantly decreased their wealth of which they had to share with other Crusaders.

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he was in office from 1929 to 1933 and served as a reform governor, promoting programs to combat the economic crisis besetting the united states at the time. in the 1932 presidential election, roosevelt defeated republican president herbert hoover in a landslide.

explanation: