
Take the case of Venice in the year 1314, with interest rates so high that made almost impossible for anyone to borrow money.
Since the King of France had forbidden Flemish merchants to take part in the Fairs of Champagne, imports of cloth into Venice had stopped altogether. Without Flemish cloth, Venetian dyers had been forced to fire hundreds of workers, pushing the economy into a deep recession.
To be continued in the next post.
[Text: http://johnvespasian.blogspot.com]
[Image by shellorz under Creative Commons Attribution License. See the license terms under http://creativecommons.org/licenses/by/3.0/us]
No comments:
Post a comment
Note: only a member of this blog may post a comment.