Innovative banking practices like bills of exchange (to facilitate-out-of-city payments) and double-entry bookkeeping, along with the flourishing cloth industry made Florence the wealthiest city in Europe.
The city, flush with wealth, started to focus on art, humanism, creation, enjoyment of life’s pleasures, and intellectual pursuits. It framed itself as ‘The New Rome’ and was a true Renaissance city due to it’s elevated and classist thinking that offered freedom, prosperity and knowledge.
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The historical significance of urban centers
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