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gizmo_the_mogwai [7]
3 years ago
10

What was the federal reserve act designed to prevent

History
1 answer:
Radda [10]3 years ago
3 0
A unstable economy
The federal reserve act created the Federal reserve System( Banking system of the United States), which created the authority to issue Federal Reserve notes(money). It balanced interest of private and populist
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<span>The city-states of Italy were situated upon peninsulas and islands which made trade very easy. It was spurred by the Crusades and led to the growth of large city-states in northern Europe. This meant that northern Italy was quite urban as compared to the rest of Europe which was still rural. Cities served as platforms to exchange ideas and proved to be a facilitator for an intellectual revolution. When the bubonic plague hit in the 1300s, economic changes were brought about. Because of the decreased amount of laborers, survivors were in demand and could, therefore, demand higher wages. Merchants then began to pursue other interests (art) with fewer opportunities to expand. </span>

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<span>In each city-state, a wealthy merchant class developed. City-states such as Milan and Florence were quite small which meant more citizens could be involved in political life. Merchants did not inherit social rank like nobles did and had to use their wits and knowledge to succeed in business. They were extremely successful at politics too and as a result, successful merchants believed they deserved this power and wealth. They began to value individual achievement. With Florence in particular, the city-state had a republican form of government in the late 1200s. But during the beginnings of the Renaissance, Florence came to be under the rule of the powerful banking family - the Medici family. The family bank of Medici had offices throughout Italy and major cities of Europe. Cosimo de Medici was incredibly wealthy, not only as an Italian, but as a European. He won over Florence's government and influenced members of the ruling council by giving them loans. He served as the dictator for Florence for 30 years. After he died, his family continued to control Florence. The Medici family supported artists such as Michelangelo by sponsoring them. </span>



<span>All in all, Italy was had the economic and political power to allow new ideas to sprout and trade to spur, this igniting the Renaissance as a movement.</span>
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