The Guiding Rules and Principles of Ragusa During the...

It is the aim of this report to examine and present in as concise a from as possible the principles and rules which guided and regulated the economic activities of Ragusa during the period known as the Middle Ages. Moreover, touching upon the primary commercial institutions and players that helped establish this city, how this city regulated itself along with gearing itself to prosperity. Hypothesis: The dissertation of this research report will focus on demonstrating how Ragusa’s economy flourished in the Middle Ages, along with the activities that were conducted to promote the well-being of the civilians of this city. Methodology: This report triggers the interest to research the different methods that Ragusa utilized to promote its†¦show more content†¦One is tempted to think of Ragusa as an early sign of a modern economy with strong fundamentals and an outward orientation. The literature on Ragusa is merely the work of historians, and solely contains statistics, mainly the interpretations are based on contemporary writers and evidence in archival works. Economic Development Ragusa was founded by Greek-Italian denizens in the 7th century who were fleeing from the Avar invasion of Epidaurus. By the 11th century Ragusa surfaced as a maritime and a commercial city, as Idrisi writes, â€Å"Ragusa was a large maritime town whose population consisted of hardworking craftsmen and possessed large fleet that traveled to different parts† (Carter, 1972, p.74). Written by Guistinani in 1553, he mentions that the civilians of Ragusa possessed fortunes that were far more in excess of other Dalmatian cities and were comparable to those of the Venetian elites. The early years of Ragusean history indicate that the economy was very simple, solely self-sufficient, and based on fishing, with some agricultural and construction of small crafts. Within a century of Ragusa’s founding, the first shipyard was ready and moving beyond local fishing coasts. Moreover, another indicator of its early economic development reveals that in 866 during the siege of Saracen, Ra gusa endured the 15 month seize showing signs of a strong economy with a strong defence system ready to withhold anything. In the 11th