The Foreign Trade System

1015 Words5 Pages
Upon reading the book from Eileen Powers. The most favorable and respected class would have been those of merchants (the likes of Thomas Betson). They managed to become the middle-man who developed a trade system in which slowly took hold over an important position of control. They focused on entrepreneurship and building a capital revenue system. Their efforts to expand trade routes through long distance markets created a system of new production and export demands. These changes brought long-term transformations to society that brought the medieval times into a modern era. This new type of manufacturing system, which were controlled by independent classes, created a crucial division of labor and capital. Gains were mostly contributed to the…show more content…
Trade opened up routes and exchange that developed a complex and thriving society. Trade encouraged the expansion of land territories and foreign influences. Trade allowed adaptation of cross cultural religious practices and culture exposure. It was the crucial link that bonded diverse societies into one exchange route. A form of networking. It was an economic evolution that led to highly urbanized societies and provided a new class of illiterate people (no longer segregated peasants or uneducated persons). Smaller communities began to emerge full of working class citizens. A democratic infrastructure started to be displayed. So too was the distinction of value which developed during this time, where amount of labor impacted the value of the goods, making it more expensive and more importantly--- more taxable. Merchant traders took advantage of this expansion and community development. They understood that trade opened up foreign resource opportunities and alliances. Providing them additional products to resale. Making profits from the gap between wage workers, production costs and resale. Trade can hugely be attributed to the wealth of early merchants and was the link that tied society…show more content…
Stimulating economic expansion, introducing new urbanity, commercial laws and they opened up social contacts or exchange. Their willingness to take risks in uncertain times are commendable. Change was on the horizon and they knew their optimism would out win the odds. Merchants set the place for an economic foundation not only during early modern times but for modern day civilization as well. It was the rebirth of an economic stimulus. They provided legacies such as global unity, foreign trade, banking systems, skilled workers, industrialism, profit margin gains, wageworkers and financial freedom for some. These reasons are what make a merchant a noble social class and one to
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