By Gianfranco Zanda (eds.)
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Enterprise capital is broadly considered as a major motive force of financial development. whereas the us has the biggest and such a lot refined enterprise capital industry on this planet, its German counterpart has only in the near past all started to mature, and diverse governmental schemes exist that are supposed to support accelerate the improvement of the German marketplace.
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143 − quoted by Fanfani (1961), p. 143 − the break in Mediterranean unity by Islam ‘is the most important fact that happened in European history after the Punic wars. It marks the end of the ancient tradition. It marks the beginning of the Middle Ages in the moment in which Europe is on the point of becoming Byzantine’. Lessico Universale Italiano (1971), p. 170. ‘The Middle Ages is not the age of gold that some romantics have wished to imagine, but, it is neither, in spite of its shortcomings and repugnant aspects, the obscurantist and gloomy period the humanists and illuminists wished to describe [.
Therefore, the financial resources required forced the State and the sovereign to find help from, procure the collaboration of and reach agreements with merchants and bankers. Mercantilism was therefore stimulated by the situation described above. 94 Secondly, the State and the monarchs managed the economic system with the aim of making the country powerful, rich and in possession of strong reserves of money. The merchants acted together and were decisive, directly or indirectly, in achieving these goals.
43 These potentes declared themselves the king’s men. To them, the king granted the benefit of vast areas of land for a time, normally for the lifetime of the beneficiary. This is how the feudal relationship between lord and vassal44 was born. The Carolingian kings used this mechanism as an important instrument of political and military expansion (from 750 to the first years of 800). 45 Power and Land Ownership 19 This system extended to the Italian regions when, in 774, they were conquered by the Franks.