How the Crusades Shaped Finance in the West
By the late 11th century, Christendomʼs geopolitics centered on a rivalry between Rome and Constantinople, with France aligned with Rome and Germany and the Normans as key players. German kings, while leaning towards the East, relied on the Pope for coronation as emperors. Norman kings like Robert Guiscard and William the Conqueror bolstered Romeʼs power through financial and military support, making it a rising force.
Money emerged as a crucial factor in this power struggle, financing armies and alliances. While the Byzantine Empire used gold from foreign trade to buy peace, Rome lacked such revenue. 13th-century popes addressed this by sponsoring Christian bankers to fund crusades against resisting powers. Credit became essential for warfare, leading to a shift in Church doctrine from condemning usury to endorsing it for military and religious gain.
The Crusades, initially aimed at uniting Christianity and protecting Eastern Christians, evolved into large-scale military campaigns. Popes organized financing through debts backed by rents from Church and noble lands. This financial system reshaped economic relations between kings, subjects, and the papacy, elevating popes to emperors in their own right.
Originally intended to free the Church from secular control, the fight against simony and for ecclesiastical celibacy fueled a drive for papal dominance over Christian realms. This quest for control necessitated costly wars funded by credit, leading to the rise of a financial class. By the 13th century, popes wielded power surpassing the Church itself, using excommunication to enforce payment to their bankers. This financial transformation reshaped Christian theology and social organization, leaving a lasting impact on history.
🔭 This summary was human-edited with AI-assist.
