S0405 Venice and the World of International Trade, 1300-1600

During the later Middle Ages Venice functioned as the capital of a \'World Economy\', whose main arena was the Mediterranean and the countries around it. The city served as an intermediary between Asia and Europe. International trade was considered in Venice as the main instrument for building and maintaining the Republic\'s leading role in Italy and the Mediterranean world, and Venice\'s elites were to a considerable extent involved in this activity. By the early seventeenth century, following the developments that will be discussed in this seminar, Venice had lost it hegemonic position in Mediterranean trade, but the changes characterizing its economy and society reflect a remarkable capacity of adaptation to changing circumstances. Various aspects of this process will be discussed in this course:\r\n

A. Venice as \"the hinge of Europe\": the disintegration of the Mongol empire in the early fourteenth century and the reorganization of trade between Europe and Asia.
B. Venice and Mediterranean trade in the later Middle Ages

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I. Structural Aspects:
a. The importance of trade for the Venetian state and society; social privileges related to trade; public and private income derived from trade.
b. Merchant culture: education, preparation and professional literature.
c. The institutions of international trade in the later Middle Ages: companies, joint ventures, forms of credit, business associations.
d. The characteristics of the \'Commercial Revolution\' of the 14th century: commercial techniques (double-entry bookkeeping, bills of exchange, maritime insurance, commercial correspondence and commercial agents).
e. Private and public commercial shipping.
f. The overseas empire and its function in Venice\'s system of international trade.
g. The institutional infrastructure of Venetian trade: legislation, diplomacy and defense.

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II. The dynamics of change: challenges and solutions
a. The advance of the Ottomans – war and international trade
b. The impact of Portuguese discoveries
c. Competition and rivalry in the Mediterranean
d. Sixteenth-century adjustments: industry, finance and agriculture

\r\nTeaching method
Interactive seminar, preliminary readings of chapters from the bibliography or of articles from the course pack are required for each session. Discussion are based on bibliography and illustrative documents, prepared in advance.