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The Medici Family: Bankers of the Renaissance (Fourteenth and Fifteenth Centuries)

In: A History of Banks

Author

Listed:
  • Mehmet Baha Karan

    (Hacettepe University)

  • Wim Westerman

    (University of Groningen)

  • Jacob Wijngaard

    (University of Groningen)

Abstract

The renaissance Italian Medici family, were entrepreneurs with a focus on financing. The Medici’s further stretch Church rules on interest taking, using their books to see where business could be developed or had to be halted. Entities throughout Western Europe acted as profit centers. Under prosperous conditions with moderate warfare and maintaining sound relations with the Church and city states governed by open-minded local upper classes, operations grew. Fascinating is the position taken by Cosimo de’ Medici (1389–1464). He was a strategist, networker and administrator. He grew and reorganised the Bank. Being briefly expelled, he could eliminate his enemies in the home base Florence. However, the Medici’s policies waned later.

Suggested Citation

  • Mehmet Baha Karan & Wim Westerman & Jacob Wijngaard, 2024. "The Medici Family: Bankers of the Renaissance (Fourteenth and Fifteenth Centuries)," Contributions to Economics, in: A History of Banks, chapter 0, pages 31-66, Springer.
    • Handle: RePEc:spr:conchp:978-3-031-62297-7_2
    DOI: 10.1007/978-3-031-62297-7_2
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