Medici Family

The Medici family controlled the city of Florence during the Renaissance and was part of the common themes theory. The Medici’s were merchants and bankers. This control of a select group of people who wielded commercial power and wealth inevitably led to domination by the wealthiest of the group. They were not completely perfect though, they had the problem of expanding of the banks at a rapid pace. Overall, they were major contributors to the growth of the Renaissance throughout their patronage of the arts and banking. For one thing, this economic problem was an example of the common theory. One big problem dealing with the uprising of The Medici banking system was that the cooperation was too small. This started to begin up until Cosimo …show more content…
One of which opened in Rome and it was the source of funds. “The Medici set up a system of branch banks, any one of which could be declared independent by rearranging accounts. Such arrangements protected the parent bank from the bankruptcy of individual branches caused by localized economic difficulties” (The Medici Bank). The reason why they were so concerned was because there sooner or later became other local branches that dealt with banking so the Medici Bank did something to spread their business more, but at the same time keep it to trustworthy people that were in power. “The Medici Bank had opened a branch bank in Venice, which was also an important outlet of investment opportunities. In the same year, the bank employed a total of 17 people at its headquarters in Florence, five were clerks” (The Medici …show more content…
With the power that the Medici’s had they could do whatever they wanted and how they wanted it. Such as, talk to people how they wanted and got everything they asked for just based on the family that they were in. The problem of over stretching the cooperation made it to where they did not know who to trust with the mass quantities of money that they had to transport from city to city. This solution to the problem worked because when they started to make Medici banks in more cities than before they did not have the problem of traveling with a lot of money anymore because if they did have to travel it would only be a short distance so the risk was minimized. Overall, the Medici period was a success to say the least. They had their problems here and there, but they solved them in a short