The First Recession - Stuff That I Find Interesting

The video explores the evolution of banking in Europe, starting with Jewish moneylenders in the 12th century. It highlights the rise of Italian banking families in the 13th and 14th centuries, particularly in northern Italy, and their expansion across Europe. The video discusses the significant influence these families had on trade and politics, including their role in financing leaders like Edward III of England. Edward's inability to repay his debts led to a banking crisis, contributing to Europe's first recession. This collapse paved the way for other families, like the Medici, to gain power, shifting wealth towards Florence and fueling the Renaissance.

Which group primarily dominated moneylending in Europe before the 12th century?

• English traders

• Jewish moneylenders

• Italian families

• French merchants

Which two banking families controlled a significant portion of Europe's wealth in the 14th century?

• The Borromeo and the Visconti

• The Rothschild and the Fugger

• The Bardi and the Peruzzi

• The Medici and the Sforza

What was one of the main reasons the Bardi and Peruzzi families went bankrupt?

• A natural disaster

• King Edward III's unpaid debts

• A war with France

• A trade embargo

What major event in the 14th century contributed to the economic turbulence in Europe?

• The French Revolution

• The Black Death

• The American Revolution

• The Industrial Revolution

Which family rose to prominence in Florence after the decline of the Bardi and Peruzzi?

• The Medici

• The Borromeo

• The Sforza

• The Visconti