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.

What led to the bankruptcy of the banking families in the 14th century?

How did the loss of wealth among certain banking families contribute to the rise of the Medici in Florence?