EFFECT OF CRUSADES ON ECONOMY AND TRADE OF EUROPE
ABSTRACT
The Crusades which were initially wars between the Christians and the Muslims had several unintending effects on Medieval Europe. It was essentially a series of wars which morphed into a catalyst of change. Crusades firmly set Europe on the path of development. It changed the economy from a feudalistic one to one where wealth was distributed. In the obsolete feudal structure, a large portion of the wealth was amassed by the king, the nobility and the clergy who were only 2% of the total population. Crusades redistributed some of this wealth.
In those days, there was hardly any production. Agriculture was the major source of income. Thus, Crusades was like a breeze of fresh air for the European Economy. Crusades led to urbanisation, which led to new methods of transactions, which enhanced trade, which led to the growth of the middle class, which led to more and more avenues opening up.
Thus, the modern concepts of Globalisation and Liberalisation has its seeds in this era.
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However, the Byzantines did not just cease to exist. Instead the empire saw a short but quick resurgence in their economic fortunes due to the Crusades and the exchange of goods and gold from Muslim lands and the coastal trading towns that began to pop up in the Mediterranean. However, this financial resurgence did not last and the empire fell into financial decline within a few hundred years after the Wars.
Interestingly, it is believed that Pope Urban II was in fact motivated to initiate the First Crusade partly to avoid internal fighting among the European rulers and the nobility and instead fight a common enemy – the Muslims. (https://www.thoughtco.com/crusades-effect-on-middle-east-195596)
Crusades had a significant impact on the economy and therefore the way of life in Medieval