The Decline of Feudalism: Rise of the Middle Class

The Decline of Feudalism

Guilds, Specialization & Banking

Guilds

• Guilds were an early form of a worker organization, and they were important in the development of the middle class.

• Guilds set rules and helped manage trade

• Members of these guilds often lived in towns and cities and held some power. 

Guilds

• Members of these guilds did not fit neatly in the feudal hierarchy. 

• They were neither peasants nor lords, but existed as something between the two

• Guild members were part of the emerging middle class, and their power began to eat away at the structure of feudalism.

Multiple Choice

A guild is:

• A country who's population share a common identity.

• A medieval organization of crafts workers or trades people.

• The process by combining several things into one

Multiple Choice

True or False: Members of a guild were considered part of the peasant class in Feudalism.

• True

• False

Power to the Middle Class!

The Middle Class

• The middle class rose from the growth of towns and cities and disrupted the structure of feudalism

• With the transition from a land-based to a money-based economy, land ownership was no longer the only source of wealth and power.

Multiple Choice

Medieval Europe moved from a _________ based economy to a __________ based economy with the rise of the Middle class.

• Land, money

• Money, land

Specialization in Towns and Regions

• Different towns and regions began to specialize in different crafts

• This specialization contributed to trade and interdependence among the towns and regions in Europe

Emergence of Banking

• A banking industry developed in Medieval Europe and enabled trade

• Banks helped contribute to the growth of monetary economies.

• Banks handled payments, stored savings, and made loans

Emergence of Banking

• Banks provided money to develop new businesses and even to help monarchs pay for wars.

• Several cities in Italy, particularly, specialized in banking

Multiple Choice

True or False: Banks handled payments, stored savings, and made loans

• True

• False

Open Ended

Identify 1 way that banks added to the growth of the Middle Class. (use your guided notes!)