Write a 5-7 page paper (double spaced, 12 point font, standard margins) on one of the following topics. Your title page and bibliography (and any other pages that are not written) do not count toward

Write a 5-7 page paper (double spaced, 12 point font, standard margins) on one of the following topics. Your title page and bibliography (and any other pages that are not written) do not count toward
A B rie f H is to ry o f CO M MER CIA L CA PIT A LIS M JA IR US B AN AJI Hay m ark et B ooks Chic a g o, I llin ois C O N TE N TS 1 . Rein sta tin g C om merc ia l C ap it a lis m 2 . The I n fr a str u ctu re o f C om merc ia l C ap it a lis m 3 . The C om petit io n o f C ap it a ls : Str u ggle s f o r C om merc ia l D om in an ce f r o m t h e T welf th t o Eig hte en th C en tu rie s 4 . Brit is h M erc a n tile C ap it a lis m a n d t h e C osm opo lit a n is m o f t h e N in ete en th C en tu ry 5 . Com merc ia l P ra ctic e s : Puttin g-O ut o r t h e C ap it a lis t D om estic I n dustr ie s 6 . The C ir c u la tio n o f C om merc ia l C ap it a ls : C om petit io n, V elo cit y , V ertic a lit y A PPEN D IX : I SL A M AN D C APIT ALIS M A CKN O W LED GM EN TS N O TES S ELEC T B IB LIO GRA PH Y For H en ry , J a ved , M . J ., a nd S ughosh 3 TH E C O M PETIT IO N O F C A P IT A LS S tru ggle s f o r C om merc ia l D om in an ce f ro m t h e T w elf t h t o E ig h te en th C en tu rie s B YZA N TIU M : T H E S U BOR DIN ATIO N O F G R EEK C A P IT A L I n C onsta n tin ople th e e arly m odern w orld in herit e d a n u rb an m onste r, 1 b u t o ne w hose tr a je cto ry h ad i n volv ed sh arp f lu ctu atio n s o v er t h e c e n tu rie s , w it h a h is to ry g oin g b ack , o f c o urse , t o la te a n tiq u it y ( u nlik e m eg acit ie s lik e C air o a n d B ag hdad ). O n t h e e v e o f it s c o nqu est b y t h e O tto m an s in 1 453, t h e c it y s p o pu la tio n h ad s ta b iliz e d a ro und s e v en ty t h ousa n d, 2 b u t a t it s e arly -B yza n tin e p eak in th e s ix th c e n tu ry it h ad b een p ro bab ly w ell o ver h alf a m illio n, a n d a t t h e e n d o f t h e t w elf th c e n tu ry w as a g ain s o m ew here in th e r e g io n o f h alf a m illio n, s a y , f o ur h undre d th ousa n d. 3 B etw een th ose p eak s c a m e a d ow ntu rn r e ach in g a l o w p o in t, f o rty t h ousa n d t o s e v en ty t h ousa n d, i n t h e e ig hth c e n tu ry ( fo llo w in g a p la g ue in 7 47 8), 4 a n d t h en a s u sta in ed r e n ew al o r e x p an sio n f r o m t h e n in th c e n tu ry d ow n t o t h e e n d o f th e tw elf th . A s th e p o lit ic a l b ase o f a n e m pir e , h ow ev er, th e m assiv e e x p an sio n o f th e in te rn al m ark et t h at o ccu rre d f r o m t h e n in th t o t w elf th c e n tu rie s w as t r u e n ot j u st o f t h e m etr o po lis b u t t o s o m e d eg re e o f t h e w hole e m pir e i n clu din g i t s v ario us s e co ndary u rb an c e n te rs a s w ell a s t h e i s la n ds. 5 W hat w as in p la y h ere w as a h uge co m mon m ark et , th e b ig gest in th e w orld in th e tw elf th c e n tu ry (if w e e x ce p t C hin a, o f c o urse ), a n d i t w as b o und t o e x ert c o nsid era b le f o rc e a s a c o m merc ia l m ag net. C onsta n tin ople is s a n dw ic h ed b etw een t h e G old en H orn t o it s n orth a n d t h e S ea o f M arm ara t o t h e s o uth . I n t h e s ix th c e n tu ry , a s o ne s c h ola r h as a rg ued c o nvin cin gly , t h e p la g ue o f 5 42 t r ig gere d a m ajo r r e lo ca tio n o f b u sin ess an d re sid en ce to th e so uth ern (M arm ara ) co ast, b eca u se b o die s w ere b ein g d um ped in th e se a a n d a n y d um ped in th e G old en H orn w ould n ot h av e b een w ash ed a w ay . 6 T he G old en H orn h ad b een a b an doned w ell b efo re t h e l a te s e v en th c e n tu ry 7 a n d i t w as t h e s o uth c o ast t h at w as m ore a ctiv ely u se d in th e se v en th to te n th c e n tu rie s. 8 T he su sta in ed e x p an sio n o f th e n in th to t w elf th c e n tu rie s, h ow ev er, s a w a s u cce ssio n o f I ta lia n c it y -sta te s s ta rtin g t o t r a d e w it h t h e e m pir e i n a b ig w ay , a n d it w as e sse n tia lly t h eir p re se n ce in C onsta n tin ople t h at r e v it a liz e d t h e G old en H orn in to t h e m ajo r c o m merc ia l h ub t h at i t b eca m e f r o m t h e e le v en th c e n tu ry d ow n t o e arly O tto m an t im es 9 a n d t h en a g ain , w it h th e r e n ew ed c o lo niz a tio n o f P era ( G ala ta , o n th e E uro pean s id e o f I sta n bu l) , in th e m ain p art o f t h e n in ete en th c e n tu ry . A ll t h e m ajo r I ta lia n c o lo nie s ( A m alf i, P is a , G en oa, V en ic e ) w ere c lu ste re d in th e lo w er G old en H orn , w it h je ttie s o r la n din g-sta tio ns ( sk ala i ) w here s e ag oin g v esse ls c o uld lo ad a n d u nlo ad . T he c it y c e n te r a n d th e s e ash ore s w ere h eav ily b u ilt u p w it h th re e- o r e v en f iv e-sto ry h ouse s. 10 I n t h e t w elf th c e n tu ry C onsta n tin ople w as a d en se ly p o pu la te d c o sm opo lit a n c it y , s h arp ly d iv id ed in s o cia l te rm s, a n d p ro ne to v io le n t, u nco ntr o lla b le fir e s. 11 J o hn T ze tz e s b o aste d h e c o uld s p eak to lo ca l r e sid en ts in n o fe w er th an s e v en la n guag es, in clu din g P ersia n , A ra b ic , R ussia n , a n d H eb re w . 12 E usta th io s o f T hessa lo nik i c o unte d six ty th ousa n d L atin s in th e c it y , 13 a n d a k een obse rv er, t h e J e w is h t r a v ele r B en ja m in o f T udela t e lls u s, T hey s a y t h at t h e t r ib u te o f t h e c it y a lo ne am ounts e v ery d ay to tw en ty th ousa n d f lo rin s, a ris in g f r o m r e n ts o f h oste lr ie s a n d b aza ars, a n d f r o m th e d utie s p aid b y m erc h an ts w ho a rriv e b y s e a a n d b y l a n d. 14 I t w as t h e g re ate st c o m merc ia l c e n te r o f th e e aste rn M ed it e rra n ean , 15 w it h a p o pu la tio n b y t h en n ot f a r s h ort o f h alf a m illio n. 16 F in ally , e v en a s la te a s 1 192 th e n ativ e, G re ek , m erc h an ts o f C onsta n tin ople w ere a la rg e, in flu en tia l, r ic h g ro up. 17 Oik onom id ès c it e s th e e x am ple o f K alo m odio s, a b an ker w ho a ccu m ula te d a v ast fo rtu ne th ro ugh su cce ssfu l o pera tio ns i n l a rg e-sc a le t r a d e, f in an cin g c o m merc ia l t r ip s u nderta k en b y o th ers. 18 Yet th e m ost e x tr a o rd in ary f a ct a b o ut B yza n tin e c o m merc e f r o m th e e n d o f th e e le v en th c e n tu ry to th e t h ir te en th c e n tu ry a n d la te r w as t h e s e v ere d is c rim in atio n G re ek m erc h an ts w ere s u bje cte d t o v is – à-v is fo re ig n c o m petit o rs by th eir o w n s ta te . B y th e te rm s o f th e tr e aty o f 1 082, V en etia n m erc h an ts co uld b u y a n d s e ll i n e v ery p art o f t h e E m pir e , f r e e o f d uty o r c u sto m s e x am in atio n. M an y p o rts w ere open ed a n d v ast te rrit o rie s m ad e a cce ssib le to th em f o r f r e e tr a d e. 19 T hese p riv ile g es, r e n ew ed b y th e e m pero rs o f t h e t w elf th c e n tu ry . . . r e n dere d t h e V en etia n s v ir tu al m aste rs o f t h e c o m merc ia l lif e of t h e e m pir e . 20 B y t h e t h ir te en th c e n tu ry , w hen t h e G en oese c a m e in to B yza n tin e e co nom ic lif e in a big w ay a n d s im il a r w id e-ra n gin g c o nce ssio ns w ere g ra n te d , Ita lia n m erc h an ts , w heth er G en oese o r Ven etia n s, b eca m e s o e n tr e n ch ed in C onsta n tin ople th at th ey c o ntr o lle d th e e co nom y o f th at c it y . 21 And b y th e e n d o f th e th ir te en th c e n tu ry , th e is la n ds o f th e A eg ean (th e A rc h ip ela g o) w ere b ein g div id ed b etw een G en oese an d V en etia n co ntr o l, 22 th e A eg ean s east co ast b eco m in g th e h eart o f Gen oa s m arit im e d om ain . G re ek m erc h an ts , m ean w hile , c o ntin ued to p ay a d uty o f 1 0 p erc e n t a n d Byza n tin e a cce ss to m ark ets in th e w est re m ain ed se v ere ly lim it e d . G re ek m erc h an ts ra re ly g ain ed acce ss t o I ta lia n m ark ets . 23 T he I ta lia n s d is c o ura g ed B yza n tin e e x p an sio n w est o f t h e P elo po nnese , 24 s o th at G re ek c a p it a l w as e ffe ctiv ely s h ut o ut o f t h e l o ng-d is ta n ce t r a d e. 25 A m ajo r u psh ot o f e n tr e n ch ed I ta lia n e co nom ic d om in an ce w as th e e n dem ic h ostilit y th at g re w u p betw een th e Ita lia n s a n d la rg e se cto rs o f th e lo ca l p o pu la tio n. 26 T he v io le n t c ru sa d er o ccu patio n o f Consta n tin ople i n 1 204 a n d t h e l o ng-sta n din g d iv is io n b etw een t h e c h urc h es d id n oth in g t o a b ate t h at, of c o urse . E very a tte m pt to b rin g th e tw o c h urc h es to geth er w as se en a s a n atio nal b etr a y al a n d sp ark ed rio ts . 27 G re ek s liv in g in te rrit o rie s under L atin co ntr o l w ere lo oked dow n upo n as a co nqu ere d p eo ple a n d s u ffe re d th e e co nom ic a n d s o cia l c o nse q u en ce s o f th at e v en to th e p o in t o f bein g d en ie d th e rig ht to h av e th eir o w n b is h ops. 28 T hey tr e ate d c it iz e n s lik e sla v es, w ro te o ne tw elf th -c e n tu ry c h ro nic le r. T heir b o ld ness a n d im pu den ce in cre ase d w it h t h eir w ealt h u ntil t h ey n ot only d ete ste d t h e R om an s [ G re ek -sp eak in g B yza n tin es] b u t e v en d efie d t h e t h re ats a n d c o m man ds o f th e E m pero r. 29 O n t h e o th er h an d, a s t h e le ft- w in g h is to ria n N ic o la s O ik onom id ès e m ph asiz e d , n one of t h is p re v en te d G re ek b u sin ess c ir c le s f r o m e n te rin g i n to p artn ersh ip s w it h I ta lia n c a p it a l. T here w as ex te n siv e c o lla b o ra tio n, a n d G re ek m erc h an ts e v en s o ught G en oese o r V en etia n n atio nalit y to e n jo y th e s a m e b en efit s . The e m erg en ce o f a B yza n tin e c o m merc ia l m id dle c la ss w as a r e m ark ab le f e atu re o f t h e e le v en th – ce n tu ry b o om in th e e co nom ic a n d c u lt u ra l lif e o f th e e m pir e , a n d it s m ost s tr ik in g p o lit ic a l o utc o m e was th e th re e d eca d es in th e m id dle o f th e c e n tu ry w hen a s tr ic tly a ris to cra tic m odel o f g overn m en t sp lit w id e o pen to a llo w th e p o pu la r c la sse s a n d c o m merc ia lly a ctiv e str a ta (lit e ra lly , th ose o f th e mark et p la ce ) acce ss, fo r th e fir st tim e ev er, to th e se n ate an d h ig her ad m in is tr a tio n. 30 N o le ss in te re stin gly , t h e s a m e r u le rs w ho b ro ught a b o ut t h is r e v olu tio nary c h an ge r e sp o nded t o t h e eco n om ic need s o f th e m id dle c la ss ( meso i ) b y a llo w in g fo r a c o ntr o lle d d ev alu atio n o f th e g old c o in ag e a measu re not o f c ris is b u t o f t h e e co nom ic b o om r e fle cte d b y a g ro w in g d em an d f o r m ean s o f c ir c u la tio n an d p ay m en t as B yza n tiu m s m ark ets w ere b eco m in g m ore d eep ly in te g ra te d in to th e ex p an sio n occu rrin g in t h e w est. 31 W hat e m erg ed b rie fly in t h e e le v en th c e n tu ry w as a f a sc in atin g a llia n ce o f t h e ab so lu tis t p o w er w it h a m id dle c la ss h ostile to th e a ris to cra cy . It w as th is ca p it a lis t d re am o f th e ele v en th c e n tu ry th at w as sh atte re d in 1 081/ 2 in th e v io le n t re actio n o f a str o ngly p ro -a ris to cra tic dynasty (th e K om nen oi) th at se t ab o ut cu rb in g th e g ro w in g afflu en ce an d p o w er o f th e G re ek merc a n tile c la ss b y a b o lis h in g all th e p riv ile g es th e b u sin essm en h ad ju st a cq u ir e d 32 a n d (ju st a s im po rta n t!) gra n tin g ex te n siv e co nce ssio ns to V en etia n ca p it a l, effe ctiv ely allo w in g a w hole sa le ta k eo ver o f B yza n tin e m ark ets b y I ta lia n m erc h an t c a p it a lis ts , w it h th e m ajo r e x ce p tio n o f th e B la ck Sea w hic h in a n y c a se fa ile d to a ttr a ct m uch a tte n tio n till th e la te r th ir te en th c e n tu ry . T he F re n ch Byza n tin is t L em erle d esc rib ed A le x io s I K om nen os s ch ry so b u ll o f 1082 as a m assiv e eco nom ic ca p it u la tio n, th e p o in t b ein g th at th ough a B yza n tin e m erc h an t c la ss s u rv iv ed a n d c o ntin ued to b e activ e d ow n to th e e n d o f th e tw elf th c e n tu ry , it h ad lo st c o ntr o l o f th e e m pir e s m ark ets . 33 G oin g b y la te r e x p erie n ce , it is p o ssib le th at th e v ast m ajo rit y o f lo ca l m erc h an ts w ork ed a s b ro kers fo r th e Ita lia n f ir m s. 34 The la st tw o a n d a h alf c e n tu rie s o f th e B yza n tin e e m pir e (1 204 1453) w ere c h ara cte riz e d b y th e ca ta str o ph e o f th e V en etia n o ccu patio n o f C onsta n tin ople , w hic h perm an en tly d is m em bere d th e em pir e a n d le ft t h e c it y it s e lf d ep le te d a n d im po veris h ed ; 35 b y f e ro cio us s tr u ggle s b etw een V en ic e a n d Gen oa f o r c o ntr o l o f t h e le ad in g t r a d e s e cto rs, o nce B yza n tin e r u le w as r e sto re d ( in 1 261) a n d G en oa esta b lis h ed a m ajo r p re se n ce th ro ugh it s allia n ce w it h M ic h ael V III P ala io lo gos (th ose str u ggle s eru pte d i n t h e l a st q u arte r o f t h e t h ir te en th c e n tu ry a n d b eg an w it h t h e B la ck S ea); b y t h e c iv il w ars o f th e 1 340s w hic h s a w th e a ris to cra cy c o nte n din g w it h r e b ellio ns b ase d o n a lo ose c o alit io n o f u rb an cla sse s th at in clu ded sa ilo rs an d lo ngsh ore m en ; b y th e aris to cra cy s d ecis iv e tu rn to co m merc ia l in vestm en t a s la n ded a sse ts w ere p ro gre ssiv ely lo st to th e O tto m an a d van ce fr o m th e m id dle o f th e fo urte en th c e n tu ry ; a n d f in ally , b y t h e o verw helm in g g rip t h at G en oa e v en m ore t h an V en ic e h ad n ow esta b lis h ed o ver m uch o f t h e t r u nca te d e m pir e s t r a d e. I n deed , t h e G en oese h ad c lo se r e la tio ns w it h t h e Turk s t h ro ughout t h e f o urte en th c e n tu ry , a n d a v ery s u bsta n tia l p art o f t h eir b u sin ess w as d one i n t h e Otto m an t e rrit o rie s. 36 The id ea th at a n cie n t a n d m ed ie v al w rit e rs w ere o bliv io us to th e p la y o f e co nom ic fo rc e s in th e his to ry o f th eir re sp ectiv e so cie tie s an d civ iliz a tio ns d oes n ot sta n d u p to sc ru tin y. T o B yza n tin e writ e rs lik e G eo rg e P ach ym ere s an d N ik ep h oro s G re g ora s it w as fa ir ly obv io us th at G en oa s ex p lo it a tio n o f B yza n tin e m ark ets w as th e b asis o f h er p ro sp erit y . 37 P ach ym ere s h im se lf h as so m e re m ark ab le p assa g es o n t h e k in d o f d om in an ce t h e G en oese h ad e sta b lis h ed o ver t h e e m pir e a n d a b o ut th e fie rc e s tr u ggle s b etw een th em a n d th e V en etia n s fo r th e d om in atio n o f G re ek m ark ets . I n o ne o f th ese h e w rit e s, th e V en etia n s a n d th eir c o m munit y ( in C onsta n tin ople ) fo rm erly g re atly s u rp asse d th e G en oese i n w ealt h . . . b eca u se t h ey m ad e g re ate r u se o f t h e [ n arro w ] w ate rs ( th e A eg ean ) t h an d id th e G en oese a n d b eca u se th ey s a ile d a cro ss th e h ig h s e a ( th e M ed it e rra n ean m ore w id ely ) w it h lo ng sh ip s ( g alle y s), a n d th ey s u cce ed ed in g ain in g m ore p ro fit th an d id th e G en oese in tr a n sp o rtin g a n d ca rry in g w are s. B ut o nce th e G en oese b eca m e m aste rs o f th e B la ck S ea b y g ra n t o f th e e m pero r (M ic h ael III) a n d w it h a ll lib erty a n d fr a n ch is e , th ey b ra v ed th at [s e a], a n d sa ilin g in th e m id st o f win te r i n s h ip s o f r e d uce d l e n gth . . . t h ey n ot o nly b arre d t h e R om an s ( B yza n tin es) f r o m t h e l a n es a n d ware s o f t h e s e a bu t a ls o e clip se d t h e V en etia ns i n w ea lt h a nd m ate ria l [ g ood s] . B eca u se o f t h is t h ey c a m e to lo ok d ow n n ot o nly u po n th ose o f th eir o w n k in (o th er Ita lia n s) b u t als o u po n th e R om an s th em se lv es. 38 H ere P ach ym ere s d esc rib es t w o b ro ad p erio ds in t h e c o m merc ia l h is to ry o f t h e e m pir e , in th e f ir st o f w hic h , a cco rd in g to h im , th e V en etia n s e sta b lis h ed th eir p rim acy th ro ugh a s tr a te g y o f ca b o ta g e o r c o asta l tr a d in g in th e p u re ly G re ek p arts o f th e e m pir e ( a B yza n tin e v ersio n o f w hat in In dia th e B rit is h w ould la te r c a ll th e co untr y tr a d e ). T he G en oese la te r s u rp asse d th em b y m ak in g th e B la ck S ea th e re n ew ed fo cu s o f th eir c o m merc ia l o pera tio ns. T his str ik es m e a s a re m ark ab ly co here n t s u m mary o f o ver t w o c e n tu rie s o f B yza n tin e c o m merc ia l h is to ry . In b o th c it ie s, V en ic e a s w ell a s G en oa, th e a ris to cra cy it s e lf w as v ery s u bsta n tia lly in volv ed in th e tr a d e w it h R om an ia . 39 T he in vestm en ts a t s ta k e w ere th ose o f th e le ad in g fa m ilie s in b o th c e n te rs. But c o m merc ia l c a p it a l w as s till w id ely d is p erse d a m ong th e alb erg hi . O n th e G en oese sid e, th e six le ad in g fa m ilie s acco unte d fo r 29 perc e n t of all in vestm en t, a deg re e of co nce n tr a tio n sc a rc e ly co m para b le w it h t h e m uch h ig her l e v els c h ara cte ris tic o f l a te r c e n tu rie s. 40 I n ca . 1170 t h e V en etia n s h ad vastly m ore c a p it a l tie d u p in B yza n tiu m th an a n y o f th eir c o m petit o rs. T hey h ad a s tr o nger h old o n th e i s la n ds, a n d t h is w as e x te n siv e b y t h e s e co nd q u arte r o f t h e t w elf th c e n tu ry . 41 When th e G en oese fir st so ught to e sta b lis h th em se lv es in C onsta n tin ople , th eir n ew ly e sta b lis h ed qu arte rs w ere re p eate d ly atta ck ed an d ev en d em olis h ed in 1 162 b y a m ob co nsis tin g m ain ly o f Pis a n s, th en a g ain in 1 170 b y th e V en etia n s th em se lv es, a n d a th ir d tim e, in A pril 1 182, in a d re ad fu l lo ca l p o gro m a g ain st a ll Ita lia n s (e x ce p t th at th e V en etia n q u arte r la y v aca n t a t th is tim e). 42 O n a ll th ese v ario us o cca sio ns, c la im s fo r c o m pen sa tio n w ere s u bm it te d b y th e m ain a g grie v ed p artie s, a n d fr o m th ese o ne g ets a t le ast a c ru de im pre ssio n o f th e s c a le o f th eir r e sp ectiv e in vestm en ts . G en oese estim ate s o f t h e l o sse s t h ey s u sta in ed i n 1 162 a n d 1 182 r e sp ectiv ely s u ggest t h at i n t h e p re v io us d eca d e or s o th ere h ad b een v ery r a p id e n ric h m en t o f G en oese m erc h an ts tr a d in g to B yza n tin e m ark ets . 43 I t se em s e n tir e ly lik ely th at th e d is ru ptio n o f V en etia n b u sin ess fo llo w in g th e r e p ris a ls a g ain st th em in 1171 w ork ed s tr o ngly i n G en oa s f a v or. That t h e L atin c o nqu est o f C onsta n tin ople w as l a rg ely a f u nctio n o f t h e e n dem ic r iv alr y b etw een t h e tw o m ain co m merc ia l po w ers is sh ow n by th e fa ct th at G en oa w as not offic ia lly re p re se n te d in Con sta ntin op le d urin g t h e o ccu patio n. 44 V en ic e s t e rrit o ry in t h e c it y e x p an ded s u bsta n tia lly s o on a fte r th e c o nqu est. 45 T he re sto ra tio n o f B yza n tin e ru le in 1 261 tu rn ed th e ta b le s d ra m atic a lly a s G en oa beca m e t h e d om in an t e co nom ic p o w er i n C onsta n tin ople a n d s e cu re d a cce ss t o t h e B la ck S ea, w here a co lo ny w as e sta b lis h ed a t C affa t h at w as t h riv in g b y t h e 1 280s. 46 T he w hole p erio d f r o m 1 270 t o 1 3 40 sa w s u bsta n tia l G en oese i n vestm en t. I n 1 348, a cco rd in g t o t h e c h ro nic le r G re g ora s, r e v en ues f r o m t h e cu sto m s c o lle cte d a t G en oa s c o lo ny a t P era w ere a lm ost se v en tim es b ig ger th an th e c o lle ctio ns a t Consta n tin ople . 47 T hese f e ll s h arp ly in th e la te r f o urte en th c e n tu ry , w hic h s a w a p ro lo nged r e ce ssio n th at o nly lif te d in th e e arly p art o f th e fif te en th c e n tu ry . C om petit io n w as s h arp er th an e v er in th ese deca d es, s in ce t h ere w ere n o f e w er t h an t h re e co lo nia l w ars b etw een V en ic e a n d G en oa f o r c o ntr o l of t h e A eg ean , t h e u psh ot o f w hic h w as a d iv is io n, a d e f a cto c a rv e-u p, o f t h e s e a b etw een t h em . 48 Thus th e co lo niz a tio n o f th e B yza n tin e e m pir e p ro bab ly c o unts a s th e m ost s tr ik in g e x am ple o f a co lo nia l- sty le eco nom y befo re co lo nia lis m . The para lle l has been dra w n re p eate d ly , an d Oik onom id ès h im se lf w ould s p eak o f t h e eco nom ic im peria lis m o f w este rn m erc h an ts . 49 A n a tte m pt in th e m id dle o f th e fo urte en th c e n tu ry to r e esta b lis h g re ate r p arit y in th e d utie s p aid b y G re ek a n d Ita lia n m erc h an ts le d to a v io le n t re actio n w hic h fo rc e d th e em pero r Jo hn V I K an ta k ouze n os to re v erse h is d ecis io n. 50 ( T he G en oese r e acte d b y b u rn in g B yza n tin e m erc h an t s h ip s a n d w are h ouse s!) The t r e aty o f 1 352 i n clu ded a c la u se se v ere ly l im it in g t h e a cce ss o f B yza n tin e m erc h an ts t o T an a a n d th e S ea o f A zo v. 51 T he meso i w ho w ere a ctiv e in t h e r e b ellio ns o f t h e 1 340s in clu ded a la y er o f G re ek ca p it a l t h at b o th r e se n te d i t s s u bo rd in atio n t o m ore p o w erfu l c o m petit o rs and d ep en ded o n t h em f o r i t s ow n s u rv iv al. I n T hessa lo nik i, th e m ost r a d ic a l fa ctio n, th ose k now n a s th e Z ealo ts , e v en c o ntr o lle d th e c it y s g overn m en t f o r s o m e s e v en o r e ig ht y ears a n d w ere le d , in p art a t le ast, b y t h e c it y s h arb o r work ers. 52 A ngelik i L aio u a rg ued th at th e c iv il w ar w as an a b o rtiv e e ffo rt to c re ate a sta te q u it e dif fe re n t f r o m w hat h ad e x is te d in B yza n tiu m , o ne w here t h e i n te re sts o f t h e c o m merc ia l e le m en t w ou ld b e pa ra m ou nt . 53 In a n y c a se , b y th e la tte r h alf o f th e c e n tu ry a m ore su bsta n tia l k in d o f in volv em en t em erg ed a s m em bers o f th e G re ek a ris to cra cy c o m pen sa te d fo r fa llin g in co m es fr o m th eir e sta te s b y tu rn in g t o l a rg e-sc a le t r a d e a n d b an kin g. A s O ik onom id ès s h ow ed , t h e h ig hest l e v els o f t h e a ris to cra cy were in volv ed in th is , 54 w it h th e n um ber o f a ris to cra ts in volv ed in tr a d e g ro w in g d ra m atic a lly . T he urb an u pper c la ss o f B yza n tiu m w as a t la st u nit e d in p u re ly c a p it a lis t a sp ir a tio ns, h e w ro te , 55 a n d t h e pre v io us d is tin ctio n b etw een t h e meso i a n d t h e a ris to cra cy e v en tu ally d is a p peare d . A f in al w ord . N one o f t h e le ad in g I ta lia n t r a d e c e n te rs t h at t r a d ed w it h B yza n tiu m s im ply r e p lic a te d th e p atte rn o f th eir c o m petit o rs. I n th e e le v en th c e n tu ry , A m alf i ( w here , a g ain , th e a ris to cra cy w ere key d riv ers o f e x te rn al in vestm en t, u nlik e th e o th er so uth ern n obili t ie s) 56 h ad sp ecia liz e d in lu xu ry im po rts f r o m C onsta n tin ople f o r m ark ets in R om e a n d N ap le s, in te g ra tin g it s t r a d e w it h t h e s o uth ern Med it e rra n ean b y u sin g th e g old fr o m th e S ah ara a cq u ir e d in th e M ag hre b p o rts a n d in E gypt (in ex ch an ge fo r g ra in , tim ber, lin en clo th , an d so o n) to fin an ce p u rc h ase s fr o m th e B yza n tin es. In Consta n tin ople th e A m alf it a n s w ere b u yers, n ot se lle rs. 57 In th e e le v en th a n d tw elf th c e n tu rie s, th e Ven etia n s h ad tr a d ed in th e lo ca l p ro duce o f th e G re ek m ain la n d a n d G re ek is la n ds a n d o f s o uth ern Ita ly , in it e m s s u ch a s o liv e o il, c h eese , w in e, w heat, r a w s ilk , a n d r a w c o tto n. A bo ut s ix ty p erc e n t o f Ven ic e s tr a d e w it h th e e m pir e is s a id to h av e b een tr a n sa cte d in G re ece . 58 S outh ern C ala b ria w as a majo r p ro duce r o f r a w s ilk 59 a n d t h is m ust a ls o h av e r e ach ed m an ufa ctu rin g c e n te rs s u ch a s T heb es in Ven etia n s h ip s. O liv e o il c a m e f r o m t h e P elo po nnese . 60 A V en etia n b y t h e n am e o f V it a le V olt a n i, w ho se ttle d in G re ece in th e 1 160s, w as sa id to h av e d om in ate d th e o il m ark et in C orin th , S parta a n d Theb es. 61 F or t h eir p art, t h e G en oese c o m bin ed t h e b u lk t r a d es o f t h e B la ck S ea r e g io n, P hokaia , a n d Chio s ( g ra in , a lu m , le ath er, c o tto n, e tc .) w it h th e im po rta tio n o f e x p en siv e fa b ric s, m an y d if fe re n t ty pes o f E uro pean c lo th , 62 t h e e x p o rt o f A nato lia n c a rp ets , 63 R ussia n f u rs, 64 a n d s o o n. VEN IC E T O P O R TU GAL Unlik e t h e r u le rs o f B yza n tiu m , i t w as M am lu k p o lic y n ot t o i n te rv en e i n t h e c o nflic ts b etw een V en ic e an d G en oa. I n 1 294 t h e c o m merc ia l b attle b etw een t h em h ad s p ille d o ver i n to t h e f a r e n d o f t h e e aste rn Med it e rra n ean . T he S yria n ch ro nic le r al- J a za ri n ote s th at in 1294 w it n esse s re p o rte d th at la rg e num bers o f F ra n ks c a m e b y s e a to A yas fo r p u rp o se s o f tr a d e a n d th at th ey b elo nged to tw o n atio ns ( ta if a ). O ne l o t w ere c a lle d V en etia n s, t h e o th er G en oese . A s a cts o f h ostilit y e sc a la te d b etw een t h em , th ey g ot i n to a b it te r f ig ht a n d o n o ne d ay a lo ne o ver 6 000 p eo ple w ere k ille d . T he G en oese g ot t h e bette r o f t h e V en etia n s. 65 A l- J a za ri w as d esc rib in g a c ru cia l p art o f t h e p re lu de t o t h e m ajo r w ar t h at dev elo ped tw o y ears la te r, w hic h b eg an a n d e n ded w it h th e V en etia n s se ttin g fir e to P era a n d th e Gen oese r e ta lia tin g b y m assa crin g l a rg e n um bers o f t h em i n t h eir q u arte r o f t h e c it y . In th e tw elf th a n d th ir te en c e n tu rie s, th e e x p an sio n o f Ita lia n b u sin ess in te re sts in th e L ev an t ra n pa ra lle l to a r a p id g ro w th o f M uslim tr a d e a n d s e ttle m en t o n th e M ala b ar c o ast. 66 T he L ev an t c o tto n tr a d e w as d om in ate d b y t h e I ta lia n s, s o t h at b y t h e l a te f if te en th a n d s ix te en th c e n tu rie s in p eak y ears th e to ta l v olu m e o f V en etia n c o tto n im po rts fr o m a ll s o urc e s c o uld e x ce ed 4 ,0 00 to ns. 67 T hey h ad su bsta n tia l in te re sts in th e L ev an tin e s u gar in dustr y , fo r e x am ple , in th e v illa g es a ro und T yre w here th e m ost im po rta n t s u gar p la n ta tio ns o f t h e S yro -P ale stin ia n c o ast p asse d in to V en etia n h an ds in 1 123 (b etw een t h e f ir st a n d s e co nd C ru sa d es). 68 W it h t h e f a ll o f A cre in 1 291, V en etia n s u gar in te re sts w ere re lo ca te d to th e is la n ds. In C ypru s in th e la te r fo urte en th an d fif te en th ce n tu rie s, th e C orn ers, a po w erfu l V en etia n f a m ily , b u ilt a t h riv in g e n te rp ris e i n s u gar. 69 I n 1 183 t h e S pan is h t r a v ele r I b n J u bay r sa w in num era b le lo ad s o f p ep per b ein g s h ip ped t o t h e S udan ese p o rt o f A ydhab a n d t r a n sp o rte d f r o m th ere in n um ero us ca ra v an s. 70 B are ly se v en y ears la te r, th e v alu e o f g oods e x p o rte d b y C hris tia n merc h an ts t r a d in g t h ro ugh t h e N ile p o rts w as e stim ate d t o b e w ell o ver 1 00,0 00 d in ars, a n d t h is a t a tim e o f c o nsid era b le p o lit ic a l te n sio ns (S ala d in h ad c a p tu re d Je ru sa le m in 1 187). 71 T he n um ber o f merc h an ts f r o m t h e w est t r a d in g i n A le x an dria i n 1 216 w as ( a s I n ote d e arlie r) p u t a t t h re e t h ousa n d b y th e h is to ria n a l- M aq riz i. 72 I n ca . 1260 V en etia n s o urc e s in dic a te la rg e c o tto n s h ip m en ts fr o m A cre . 73 Can dia i n V en etia n -c o ntr o lle d C re te b eca m e a m ajo r s p ic e m ark et i n t h e e arly f o urte en th c e n tu ry . T he su gar a n d c o tto n e x p o rte d t h ere f r o m A le x an dria w ere r e ex p o rte d t o I ta ly i n V en etia n g alle y s. 74 B y t h e mid dle o f t h e c e n tu ry t h e p ap ers o f t h e V en etia n n ota ry B re sc ia n o r e fle ct massiv e i m po rts o f I ta lia n a n d Fle m is h te x tile s in to C an dia , s o m eth in g th at w as d oubtle ss tr u e o f o th er V en etia n c o lo nie s. 75 B y th e en d o f t h e c e n tu ry t h e v olu m e o f I ta lia n b u sin ess h ad i n cre ase d d ra m atic a lly . I n vestm en ts c o uld r u n a s hig h a s 4 50,0 00 d in ars w it h t h e V en etia n s in t h e 1 390s, a n d b etw een 2 00,0 00 a n d 3 00,0 00 d in ars e v ery year b etw een 1394 an d 1400 in G en oa s ca se . (T he C ata la n s ca m e th ir d w it h an an nual av era g e ca . 200,0 00.) 76 A nd b y th e fif te en th c e n tu ry w hen , a s B ra u del sa y s, V en ic e w as u nqu estio nab ly th e vig oro us h eart o f th e M ed it e rra n ean , 77 th an ks la rg ely to it s tr a d e w it h th e L ev an t, m erc h an t g alle y s wit h g oods w orth o ne m illio n d uca ts p lu s 4 00,0 00 i n c a sh w ere s a ilin g f r o m V en ic e f o r A le x an dria a n d Beir u t. 78 The L ev an t t r a d e w as t h e m id dle s e g m en t o f a c ir c u it t h at e x te n ded t o t h e p o rts o f M ala b ar in S outh In dia a n d b ey ond th em in to S outh east A sia . H ere th e g re at c o unte rp art to th e c ru sa d in g p erio d s cre atio n o f n um ero us L atin tr a d in g co lo nie s in th e N ear E ast w it h th eir o w n co nsu ls , h oste ls , ware h ouse s, m ark etp la ce s, a n d c h urc h es 79 w as t h e e x p an sio n o f I sla m , w hic h , s im ila rly , b eg in s in t h e tw elf th c e n tu ry a n d r e ach es it s c o m merc ia l z e n it h in t h e f if te en th . T he o ld est r e lia b ly d ata b le m osq u e on th e M ala b ar c o ast w as fo unded in 1 124, a t M ad ay i. 80 B y th e e n d o f th e th ir te en

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