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The Rise and Decline of the Medici Bank, 1397-1494
The Rise and Decline of the Medici Bank, 1397-1494
The Rise and Decline of the Medici Bank, 1397-1494
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The Rise and Decline of the Medici Bank, 1397-1494

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The roots of modern capitalism go back to the Italian banking system of the late Middle Ages and the Renaissance. In the fifteenth century, the Medici Bank succeeded in overshadowing its competitors, the Bardi and the Peruzzi, who were the giants of the fourteenth century, and grew into a vast establishment with branches in most of the large cities of Western Europe. A study of its operations is essential to an understanding of the economic conditions in Europe in the fifteenth century.

From a careful study of pertinent documents, including a set of libri segreti (confidential ledgers) discovered in 1950, Professor de Roover has reconstructed the details of the bank’s organization and operating methods; its loan policies, which reflected the Church’s doctrine on usury; its trading and industrial investments; its roles within the Florentine gild system and tax structure; and its activities as financial agent of the Church. He covers every aspect of the bank’s history, from its early years under the management of Giovanni di Bicci de’ Medici to its collapse with the expulsion of the Medici from Florence.

“An invaluable contribution to the economic history of the period….A splendid book.”—Harry A. Miskimin, The American Economic Review

“The most important work in English on a medieval or Renaissance bank.”—The Economist

“The best book ever written on the medieval banking system.”—John T. Noonan, Jr., Harvard Law Review

“The most authoritative treatment of its subject in any language.”—Rondo Cameron, The Accounting Review
LanguageEnglish
Release dateMar 12, 2018
ISBN9781789120776
The Rise and Decline of the Medici Bank, 1397-1494
Author

Prof. Raymond de Roover

RAYMOND ADRIEN DE ROOVER (1904-1972) was a noted economic historian of medieval Europe. Born in Belgium in 1904, he graduated from the Institut Supérieur de Commerce in Antwerp in 1924. He completed his military training and worked in a bank, before joining the Agence Maritime Internationale, one of the world’s largest steamship operators, where he remained until 1936. During this time he developed an interest in the history of economics and accounting, working in the archives of Antwerp and Bruges in his spare time. His first book, Jan Ympyn, on the first Flemish accounting treaty, was published in 1928. He received his Master in Business Administration from Harvard University in 1938 and went on to teach at Harvard University, University of Chicago, Boston College, and Brooklyn College in The City University of New York, in addition to various European universities. He was also a Guggenheim Fellow in 1949. His published works include Money, Banking and Credit in Medieval Bruges (1948); The Rise and Decline of the Medici Bank, 1397-1494 (1963); and Business, Banking, and Economic Thought in Late Medieval and Early Modern Europe (1974). He died in 1972.

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    The Rise and Decline of the Medici Bank, 1397-1494 - Prof. Raymond de Roover

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