Economy
The period after the death of Charlemagne was marked by an economic crisis caused by political instability; town life all but disappeared. However, this had changed by the 11th century. The introduction of new crops, the improvements in the climate, and the introduction of new agricultural technologies created a large agricultural surplus. This was accompanied by the growth in town life, trade, and industry. The economy once again collapsed in the fourteenth century because of war, bad weather, and the Black Death.
The rural economy was based on the manor; in urban areas economic activity was organized around guilds.
Read more about this topic: France In The Middle Ages
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)
“The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.”
—Ralph Waldo Emerson (1803–1882)