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“Why Byzantine Economy Remained One of the Most Powerful in Europe Through Early Middle Ages?”

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“Why Byzantine economy remained one of the most powerful in Europe through Early Middle Ages?”
The Byzantine cconomy was one of the largest systems throughout Europe and the Mediterannean for many centuries. Both local and international trade were of huge importance for the Byzantine Empire. Lower class, including traders, depended on the upper class. Their need of the foreign goods in order to stay in Local trade was much less popular. Throughout the fourth and sixth centuries, long-distance trade was operating successfully, until the plague appeared, which killed around one-third of the citizens in the Byzantine Empire, and ruined the trade networks. The Byzantine economy had recovered in the tenth century, and Italian merchants …show more content…

The Byzantines considered land a common resource, not to be bought or sold, but it is valuable only if the men were invesing in it. The biggest loss of the inhabitants and land was in 541 due to the plague, where Constantinopole lost 40 % of its inhabitants. It affected both cities and countryside, as well as the routes of trading and communication, and significantly shrank the economic production. In the 9th century after the plague, peace was slowly reestablished and territories started to increase (Bryer 101-113).
From the other side, Constantinople was presented as a very wealthy capital which served as propaganda for the foreigners that came to visit it, as well as for their own citizens. Constantinopole was fully decorated with the foreign imported material such as silk or gold. The 10th century was one of the most powerful in the Byzantine Empire history, and through that period, Constantinopole was the biggest centre of the international trade, with merchants mostly from Italy, Syria, and Bulgaria. In the middle of the 10th century international trade with Muslims became very popular, while in the 11th and 12th century economy of exchange took place. Before the ninth and tenth century, Arabs were invading Egypt and Syria, which ruined the Byzantine trade, but since the population size increased in ninth and tenth century, production and trade also increased, especially the demand for grain. The shipping was important for the international trade, so

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