Trade in Medieval Europe
Trade and commerce in the medieval world developed to such an extent that even relatively small communities had access to weekly markets and, perhaps a day’s travel away, larger but less frequent fairs, where the full range of consumer goods of the period was set out to tempt the shopper and small retailer. Markets and fairs were organised by large estate owners, town councils, and some churches and monasteries, who, granted a license to do so by their sovereign, hoped to gain revenue from stall holder fees and boost the local economy as shoppers used peripheral services. International trade had been present since Roman times but improvements in transportation and banking, as well as the economic development of northern Europe, caused a boom from the 9th century CE. English wool, for example, was sent in huge quantities to manufacturers in Flanders; the Venetians, thanks to the Crusades, expanded their trade interests to the Byzantine Empire and the Levant, and new financial instruments evolved which allowed even small investors to fund the trade expeditions which criss-crossed Europe by sea and land.