Fuggers in Germany

Definition

The Fuggers were a German mercantile and banking dynasty that emerged in Augsburg during the 15th century. They became one of Europe's most powerful families through trade and banking activities.

Analogy

Consider Fuggers as "Warren Buffet" of their era. Like Warren Buffet built his empire through smart investments and strategic business decisions, so did Fuggers with trade and banking operations across Europe.

Related terms

Mercantilism: An economic theory that advocates government regulation of international trade to generate wealth for a nation-state.

Trade networks: Systems involving multiple trading partners across different geographical locations. These networks facilitated exchange of goods between regions or countries.

Bankruptcy law: Laws related to how an individual or corporation is treated when they can't pay back their debts. Jakob Fugger 'the Rich' was instrumental in shaping these laws.