Abstract
DURING the eleventh and twelfth centuries a fundamental change was taking place in the economic system on which the civilization of Western Europe rested. The basic feature of this change was the gradual reappearance of a money economy. By 1200 one could sell one’s surplus production and buy what one could not produce. Closely related causally to this rise of a money economy, and simultaneous with it, were an increase in trade and commerce, a revival of specialized craftsmanship, and the development of towns. Into a society of priests, knights, and peasants were introduced merchants, tradesmen, and artisans. These new phenomena had a profound effect on every phase of mediaeval civilization—political, cultural, social, and economic. This chapter will trace the revival of trade and commerce, the growth of towns, and the reappearance of a money economy, and show the general effect of these developments on mediaeval society.
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