Economic and Political Importance of Medieval Fairs in Europe - Essay Example

History and Political Science Medieval fairs, what economic and political factors, explain their existence in the medieval era? Medieval fairs were gatherings for buyers and sellers, who congregated at certain places with their commodities at predetermined periods or random seasons or through special engagements. Medieval fairs and markets first started as social gatherings, however, with time the fairs became central to the medieval economy. Major economic centers which were mainly big towns selected a particular day where people would congregate with their merchandise. These activities were held outdoors as this allowed the villagers ample space to spread their wares. Initially, the fairs would only involve local people but as travel became easier and safer, traders began to make long travels to participate in these fairs. This also opened up trade routes allowing a more widespread participation which also meant that the fairs had a wider variety of wares. Items brought forward were dependent on the main products available in different areas of the participating traders. The main commodities involved were wool and lead from England, iron from Spain, and silk and spices from the Middle and Far East (Barzdukas, 2010). The fairs extended because the different participants had a different commodity to offer. Basically, this is what sustains every trade as people continue to demand for that which is not at their disposal. As can be observed from the commodities offered by each of the participating parties every country or region had unique products which it brought to the fairs. It is this uniqueness that ensured these fairs were fully attended and that they received the support of the merchandise owners. Beyond the merchandise owners, there were the venues where these fairs were held the main ones were in France, Germany and Italy. The most renowned fair was one held in Champagne region in France. Other significant ones were held in different other cities such as Troyes, Provins, Lagny, and Bar-Sur-Aube. These venues were critical for the fairs as they provided hostelries for fair merchants, and warehouses for foreign goods (Cosman & Jones, 2007). Most of the major trade cities had a much more detailed structure which provided for sound regulations and had courts to provide redress for any trade misconduct taking place between the participants. However, the organization was depended on the political class heading these cities or regions and more intrinsically it was determined by how much the political class stood to gain. These trade fairs were mainly sustained for both political and economic reasons. Firstly, the economic reasons were quite plain as almost all were driven by the need to fill their financial coffers. The main fairs held for this reason was those held in cities such as Frankfurt, Lyno, Geneva, and Nimes. The main merchants and the political class had identified that trade fairs formed a basic source of revenue, this came through taxes and other form of duties levied to traders who came to sell their wares. In France, where the main medieval fair, Champagne and Lyon, was held the kings received quite significant amounts of cash from the trading activities. Beyond the economic benefits derived by the ruling class, the local people also benefited greatly from these trade fairs. They got a chance to sell their excess wares which provided them with additional resources to venture in other activities. Majorly, most of the medieval trade took the form of barter trade this allowed people from Asia to derive things like silk, lead and wool which was not available in their regions. This was the case with other regions and this access provided these people with an edge in their local areas (Johnston, 2011). This is because they would reproduce these raw materials would be translated into refined goods which fetched them better profits. Therefore the main economic drive was the additional finances for the ruling class and the profits derived by the merchants. Also, the non trade participants also benefited greatly as they accessed better goods and a wider variety which made them also advocate for trade continuity. Politically, it is believed that fairs took root with the growth of more powerful, centralized territorial and national states. This prompted States to grant fairs for a number of reasons; these were thought to be a bit complicated but all were part of a wider strategy to solidify their support. This was by establishing a state’s legal, fiscal, and political prerogatives through out their administrative regions (Epstein, 1992). The first thing these state heads did was to establish monopoly rights for these trade fairs. They also allowed for additional participants only if these parties, who are willing to join the fairs would pay for their rights. This kind of created dependence to the state heads and people were prompted to remain clingy to them as they viewed them as the ultimate controllers of their trade, though some how they were. Finally, it is also argued that these rulers advanced deliberate pro-mercantilist policies which again solidified their support base. The mercantilist were some of the richest people during medieval times and this their opinion and support counted (Epstein, 1992). Politically, having these people supporting the ruling class guaranteed a longer stay to power as there was little activism against the ruling class. Most importantly, the mercantilist also did not want to upset the rulers as they also feared loosing their exclusive rights to these fairs. This mutual consideration, prompted by the apparent benefits encouraged the retention of the status quo, which guaranteed the rulers political positions. When and where were some of the most important fairs held, what sorts of goods were transacted, why dont similar fairs exist today. As mentioned earlier, the main trade fairs were held in the European region mainly France, Germany and England. In England, trade fairs became quite popular after the Norman Conquest which saw King John and King Henry establish trade friendly regulations which encouraged trade rampancy. This time which was in 1199-1483 also saw the rising influence of the church. The church played a critical role in growth of the medieval fairs as it was solely responsible for organizing fairs on feast days a factor which also boosted church revenue (Cosman & Jones, 2007). This explains the growth of fairs in the stipulated time as besides the change of political will the church had also assumed a greater role and its influence was in ascendancy. In France and Germany trade was also a major factor which attracted the attention of the political rulers. In France, trade fairs were a main source of revenue for rulers and the church as well, this saw the prominence of fairs take root in areas of great political potential or areas where there was significant political influence or religion influence. In France, these areas were Champagne region, Toyens, Provins, Lagny, and Bar-Sur-Aube. In Germany, the main trade fairs took place in Frankfurt which was both a commercial and political center (Johnston, 2011). Other towns which held trade fairs included; Lyon, Geneva, Saint Denis, and Saint Denis. The main goods as enumerated earlier were wool, spices, lead, silk and iron. Lastly, it is quite impossible to replicate fairs during medieval times to the current day situations. This is due to a number of factors but the most potent is the growth of infrastructure and the prominence of information technology. These two have made it possible to carry out commerce from remote locations, individuals are no longer required to travel to transact. Yet, it is this factor of congregation that formed the basis of medieval fairs. Also, the growth of infrastructure has eased transaction where people do not need bulk items to transact, use of plastic money and development of banks has allowed people to transact easily even among strangers. These factors make it difficult to have similar exchange fronts as was the case with the medieval fairs. Works Cited Barzdukas, V. (2010). Economies in Medieval Times. New York: Benchmark Education Company. Cosman, M. P., & Jones, L. G. (2007). Handbook to life in the medieval world. New York: Facts On File. Epstein, S. (1992). regional fairs, institutional innovation and economic growth in late Medieval Europe. London School of Economics:Working papers in economic history , 1-35. Johnston, R. A. (2011). All things medieval: An encyclopedia of the medieval world. Santa Barbara, Calif: Greenwood. Read More