Theory of knoledge - How does banking in venice during the 1300 to the Essay

Theory of knoledge - How does banking in venice during the 1300 to the 1400 compare to mondern day banking in venice - Essay Example The town life in Italy cities was bigger than in any other country. During this renaissance period, the governments of various nations were under dictatorship. However, due to the wealth created in the Italian cities such as Venice and Milan, they became autonomous city-states, each of which included an enclosed metropolitan center and the neighboring countryside. In addition, this modernization drove the city-states to create a new social system in the country. Wealth and ability was more important than aristocratic titles and ownership of land. During these times, the wealth merchants of the country together with bankers played a huge role in replacing the aristocrats in the upper class. According to their systems, shopkeepers and artisans were classified below the wealthy merchants, therefore forming a moderate and prosperous middle class that created and gave jobs to most of the poor people. The poor people from the countryside were classified at the very bottom of their social and economic ranking together with the peasants who worked in the co untry estates (Hildreth 5). During the same centuries of spiritual exploration, trade and industry revolution, and territory building, Venice was also a center of intellectual and artistic activity. The city had a huge number of mathematicians, philosophers, historians, and even humanists thrived from the fifteenth to the seventeenth century. The availability of such intellects paved way for major developments in the country. Venice became the printing hub of the country and was the most important printing press anywhere in the world at that time due to its high level of technology innovation. The development of a printing press paved way for the creation of receipts, which would then be used to acknowledge payments. The receipts would then be developed and be used as money to pay or settle for depts. This noble innovation paved way for the creation of banks in Italy