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The Amazing Synchronicity Of The Global Development (The 1300s-1450s). An Institutional Approach To The Globalization Of The Late Middle Ages

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Executive Summary

In a new approach to a long-ranging debate on the causes of the Late Medieval Debasement, the authors offer an institutional case-study of Russia and the Levant. Avoiding the complexity of the "Upstream" financial/minting centres of Western Europe, they consider the effects of debasement "Downstream", in resource-exporting periphery countries. The paper shows the amazing synchronicity of the worldwide appearance of the early modern trading system, associated with capitalism or commercial society. The centre-periphery feedback loop amplified trends and pushed towards economic and institutional changes.

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