One thing I've never quite understood from history books though: there was so much wealth, people with big palaces, large tracts of land, artwork (like statues), gold, from wealthy families, and so on. Where did all that wealth go in the end?
One thing I've never quite understood from history books though: there was so much wealth, people with big palaces, large tracts of land, artwork (like statues), gold, from wealthy families, and so on. Where did all that wealth go in the end?
Without something like a stock exchange, wealth means having actual productivity under your control and that has zero inherent stability. It's well possible to build and expand over generations while the productivity goes on and the system facilitating that control (e.g. a rule of law) remains undisrupted, but when either of that stops being the case nothing remains. When there's no authority that enforces whatever letters of ownership or contracts you might have, they are as immaterial as ETF shares in a paperless bank account that has just disappeared some day.
After the sack of Constantinople, much of that wealth, including the secret of silk-making was taken back to Italy, and the ERE would never recover from this.
For reference, the amount looted from Constantinople during its sack is meant to be around 900,000 silver marks -- enough to raise the entire Venetian navy almost 6 times over. (https://en.wikipedia.org/wiki/Sack_of_Constantinople#sack_of...)
Of course, a huge amount of wealth remained in the west, even after Odoacer's conquest (see this mosaic of the palace of Theodoric: https://www.worldhistory.org/image/3090/palace-of-theodoric-... which is in undeniably Roman form). That said, the ERE would continue to be the center of wealth in Europe up until at least the sack.
I think it's important to note that Odoacer, in destroying the WRE was not considered by his contemporaries to have destroyed the Roman Empire. He immediately sent the imperial regalia to the Emperor in the east and declared himself a Viceroy of the eastern Roman emperor. In this way, I think the ERE thought it kind of convenient, as they now, at least on paper had full control of the whole Roman empire. The identity of 'Roman' in the West was not broken, so I've read until the ERE decided to 'reconquer' Rome and mainland Italy for being barbarian, which, as you can imagine would throw your personal identity for a bit of a loop.
Despite still being greatly dilapidated when Constantinople was finally invaded by the Ottomans 200 years after the sack, it was still famous for silk. Mehmed The Conqueror is attested to have said, upon wandering its ruins:
The spider is curtain-bearer in the palace of Chosroes,
The owl sounds the relief in the castle of Afrasiyab.I don't think this is quite right. The sequence of events is roughly as follows:
1054: Great Schism, Patriarchate of Constantinople diverges from Papacy in Rome.
1071: Battle of Manzikert, Seljuk (Turkish) Empire conquers most of Anatolia
[also 1071: Norman invasion of southern Italy and Sicily, final de facto eviction of Byzantines from Italy]
1095: First Crusade, Frankish armies storm the Levant and capture Nicaea and Jerusalem -- also the only Crusade that had any real success, others at most reversed previous losses.
It seems more than a little suspicious that all of this happens so quickly. It can't just be about Jerusalem, which had fallen to the Muslim conquests four centuries prior. Rather, after the Schism, there is a "switch" from formal (but usually ignored) ERE suzerainty over European kingdoms, with European military assistance under the banner of ERE armies, to European armies fighting as "equal partners" of the ERE. This second arrangement worked well at first, but it was less stable and less successful in the long run, ultimately leading to the disastrous Fourth Crusade and the Fall of Acre.
In fact, the ERE/Byzantines had already been making gains against the Arabs in the Levant up until the Schism:
https://en.wikipedia.org/wiki/Siege_of_Antioch_(968%E2%80%93...
https://en.wikipedia.org/wiki/Arab%E2%80%93Byzantine_wars#By...
I find it somewhat hard understand, how the church managed to mobilise europe into a crusade, it is possible that the various competing establishments weren't very enthusiastic about the project, to begin with.
The Patriarch in Rome had been operating effectively independently for centuries before the schism.
The Romans made gains after the collapse of the Caliphate, retaking Anatolia, Crete, Bulgaria and Antioch and even Armenia and Georgia, but then they experienced a series of setbacks when the Turks appeared.
https://en.wikipedia.org/wiki/Joseph_Tarchaneiotes
I'm not an expert on the motivations of medieval generals, but if you've spent your whole life fighting for "God" and suddenly the people who are supposed to be close to God don't seem to have a clue what they're doing, don't you think that might impact your willingness to fight?
The Roman Empire had always centered on Italy, Greece and Anatolia. Until 1050 the ERE had always had a toehold in Italy and most of Anatolia. By 1100 they had lost all of Italy and most of Anatolia:
https://upload.wikimedia.org/wikipedia/commons/4/40/Byzantin...
It's true that theological disputes accumulated gradually before the Schism and were interleaved with political disputes, but this doesn't really dispute the importance of the theological split and instead smears it over the previous two centuries (arguably beginning with the coronation of Charlemagne).
What's confusing is that pre-decline Rome, on the face of it, seems pre-modern in many ways, but this is just a simulacrum, because there was none of the productivity increases that underpin the modern world.
Example:
19th century London: big in part because there are lots of factories there!
100 AD Rome: big because of years of taxation routing grain there!
Yes, there was trade. Yes, cities did do a lot of self rule. Yes, the early government was pretty minimal. See Rostovtzeff for some fun with this. But there wasn't really much self-sustaining about the cities.
So back to the original question, there is no "stock" of wealth. The buildings are the results of wealth, not (perhaps baring things like aqueducts) the source of wealth. Without the political control over the many agricultural laborers and their output, the wealth just dissipates.
There is a lot more 0-sum stuff going on than the modern world, where conversely the positive-sum nature of things is not well appreciated.
I'm thinking about long-lived dynasties, like the House of Yamato (1000+ years; Imperial House of Japan), or Bagrationi in Georgia, and so on.
Yet, from ancient Rome, not one of the powerful ancient families seems to have survived, and the same disappearing act happened with the rather massive wealth that was sloshing around back then. I mean that was a bit surprising to me.
I would have expected some wealthy modern "noble family" to be able to trace its roots to Rome and the wealth obtained when, say, some of their ancestors were Roman Senators, who decided to sail to a secluded location, assume control of lucrative trade routes, and so on.
Rome was never a monarchy, and even the imperial period was never as autocratic as it is sometimes painted. The Romans didn’t delineate between the republic and empire the way we do. It was still nominally the Res Publica, and still effectively in some ways a Republic. Hence, the emperor ruled with the tacit consent of, and relied on support of various factions - the army, the senate, and the plebs. Bad emperors would get overthrown and people would think nothing of it. Because the situation at the top was so fragile there weren’t really imperial dynasties that lasted more than a few generations.
Secondly, there was the ‘apocalypse’. Plague and warfare severely reduced the population of the Italian peninsula and the city of Rome (by about 95%). The countryside was overrun by various Germanic tribes who probably confiscated much of the wealth. People with money probably went elsewhere - Milan, Venice, and Constantinople for instance.
That doesn't sound too different from how monarchs would rule.
When you think about it, gold never changes over time, so calling it wealth is obviously absurd. The moment you have dug it out, you apparently have wealth. People like living in a parallel world I guess.