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THE EARLY MODERN AGE, image, image, image, image, image, image, image,…
THE EARLY MODERN AGE
Economic transformation
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Providing loans
Merchants needed money to begin new commercial activities and the bankers lent money in exchange for returning the same amount plus
Traders in this period made large profits, so they could pay their loans back and the bankers became rich
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The Medici in Florence and the Fugger family in Germany were among the most important banking families
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Social change
As well as the rural society that developed in the Middle Ages, an urban society developed. This became one of the defining characteristics of the Early Modern Age.
Social groups or classes
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Bourgeoisie
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Upper bourgeoisie
Important merchants, bankers and officials
Petite bourgeoisie
Small merchants, less important officials, all types of artisans, artists, servants and labourers
Some social groups protested for their rights. The most violent protests were carried out by the peasants. However, these revolts were severely suppressed .
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