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93-720: The Hotel Hermitage Monte-Carlo is overlooking the Monaco Harbor and the Mediterranean Sea . It is classified as Monument . It is part of the elite palaces in Monaco with the Hôtel de Paris Monte-Carlo , the Monte-Carlo Beach and Monte-Carlo Bay Hotel & Resort . Gustave Eiffel has been involved with some of the design and features at the hotel. This article about a Monegasque hotel or resort

186-537: A Roman merchant named Lun reached southern China in 226 CE. Archaeologists have recovered Roman objects dating from the period 27 BCE to 37 CE from excavation sites as far afield as the Kushan and Indus ports. The Romans sold purple and yellow dyes, brass and iron; they acquired incense , balsam , expensive liquid myrrh and spices from the Near East and India, fine silk from China and fine white marble destined for

279-598: A book called Merchants in Motion: the art of Vietnamese Street Vendors. Although merchant halls were known in antiquity, they fell into disuse and were not reinvented until Europe's Medieval period. During the 12th century, powerful guilds which controlled the way that trade was conducted were established and were often incorporated into the charters granted to market towns . By the 13th and 14th centuries, merchant guilds had acquired sufficient resources to erect guild halls in many major market towns. Many buildings have retained

372-691: A diverse range of product types. These merchants were concentrated in the larger cities. They often provided high levels of credit financing for retail transactions. In the nineteenth century, merchants and merchant houses played a role in opening up China and the Pacific to Anglo-American trade interests. Note for example Jardine Matheson & Co. and the merchants of New South Wales . Other merchants profited from natural resources (the Hudson's Bay Company theoretically controlled much of North America, names like Rockefeller and Nobel dominated trade in oil in

465-691: A group of musical performers; and dream merchant , which refers to someone who peddles idealistic visionary scenarios. Broadly, merchants can be classified into two categories: However, the term 'merchant' is often used in a variety of specialised contexts such as in merchant banker , merchant navy or merchant services . Merchants have existed as long as humans have conducted business, trade or commerce. A merchant class operated in many pre-modern societies . Open-air, public markets, where merchants and traders congregated, functioned in ancient Babylonia and Assyria, China, Egypt, Greece, India, Persia, Phoenicia and Rome. These markets typically occupied

558-552: A lowly profession and it was often subject to legal discrimination or restrictions, although in a few areas its status began to improve. The modern era is generally understood to refer to period that started with the rise of consumer culture in seventeenth- and eighteenth-century Europe. As standards of living improved in the 17th century, consumers from a broad range of social backgrounds began to purchase goods that were in excess of basic necessities. An emergent middle class or bourgeoisie stimulated demand for luxury goods, and

651-578: A number of former Phoenician cities and colonies around the Mediterranean, such as Byblos (in present-day Lebanon ) and Carthage in North Africa. The social status of the merchant class varied across cultures; ranging from high status (the members even eventually achieving titles such as that of Merchant Prince or Nabob ) to low status, as in China , Greece and Roman cultures, owing to

744-428: A place in the town's centre. Surrounding the market, skilled artisans, such as metal-workers and leather workers, occupied premises in alley ways that led to the open market-place. These artisans may have sold wares directly from their premises, but also prepared goods for sale on market days. In ancient Greece markets operated within the agora (open space), and in ancient Rome in the forum . Rome's forums included

837-483: A system of agents. Merchants specialised in financing, organisation and transport while agents were domiciled overseas and acted on behalf of a principal. These arrangements first appeared on the route from Italy to the Levant, but by the end of the thirteenth century merchant colonies could be found from Paris, London, Bruges, Seville, Barcelona and Montpellier. Over time these partnerships became more commonplace and led to

930-619: Is a calque of the Latin name, from μέσος ( mésos , "in the middle") and γήινος ( gḗinos , "of the earth"), from γῆ ( gê , "land, earth"). The original meaning may have been 'the sea in the middle of the earth', rather than 'the sea enclosed by land'. Ancient Iranians called it the "Roman Sea", and in Classical Persian texts , it was called Daryāy-e Rōm (دریای روم), which may be from Middle Persian form, Zrēh ī Hrōm (𐭦𐭫𐭩𐭤 𐭩 𐭤𐭫𐭥𐭬). The Carthaginians called it

1023-643: Is a stub . You can help Misplaced Pages by expanding it . Mediterranean Sea For other countries, click here . The Mediterranean Sea ( / ˌ m ɛ d ɪ t ə ˈ r eɪ n i ən / MED -ih-tə- RAY -nee-ən ) is a sea connected to the Atlantic Ocean , surrounded by the Mediterranean Basin and almost completely enclosed by land: on the east by the Levant in West Asia , on

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1116-447: Is believed to be the first example of a merchant guild. The term, guild was first used for gilda mercatoria and referred to body of merchants operating out of St. Omer, France in the 11th century. Similarly, London's Hanse was formed in the 12th century. These guilds controlled the way that trade was to be conducted and codified rules governing the conditions of trade. Rules established by merchant guilds were often incorporated into

1209-582: Is known as al-Baḥr [al-Abyaḍ] al-Mutawassiṭ ( البحر [الأبيض] المتوسط ) 'the [White] Middle Sea'. In Islamic and older Arabic literature, it was Baḥr al-Rūm ( بحر الروم ) or al- Baḥr al-Rūmī ( بحر الرومي ) 'the Sea of the Romans' or 'the Roman Sea' or Baḥr al-šām ( بحر الشام ) or al-Baḥr al-šāmī ( البحر الشامي ) ("the Sea of Syria"). At first, that name referred only to the eastern Mediterranean, but

1302-514: The Black Sea . In Persian, the name was translated as Baḥr-i Safīd , which was also used in later Ottoman Turkish . Similarly, in 19th century Greek, the name was Άσπρη Θάλασσα ( áspri thálassa ; "white sea"). According to Johann Knobloch, in classical antiquity , cultures in the Levant used colours to refer to the cardinal points: black referred to the north (explaining the name Black Sea ), yellow or blue to east, red to south (e.g.,

1395-656: The Calypso Deep in the Ionian Sea . It lies between latitudes 30° and 46° N and longitudes 6° W and 36° E . Its west–east length, from the Strait of Gibraltar to the Gulf of Alexandretta , on the southeastern coast of Turkey , is about 4,000 kilometres (2,500 mi). The north–south length varies greatly between different shorelines and whether only straight routes are considered. Also including longitudinal changes,

1488-823: The Forum Romanum , the Forum Boarium and Trajan's Forum . The Forum Boarium, one of a series of fora venalia or food markets, originated, as its name suggests, as a cattle market. Trajan's Forum was a vast expanse, comprising multiple buildings with shops on four levels. The Roman forum was arguably the earliest example of a permanent retail shop-front. In antiquity, exchange involved direct selling through permanent or semi-permanent retail premises such as stall-holders at market places or shop-keepers selling from their own premises or through door-to-door direct sales via merchants or peddlers . The nature of direct selling centred around transactional exchange, where

1581-620: The Iberian Peninsula in Europe from Morocco in Africa —is only 14 km (9 mi) wide. The Mediterranean Sea encompasses a vast number of islands , some of them of volcanic origin. The two largest islands, in both area and population, are Sicily and Sardinia . The Mediterranean Sea has an average depth of 1,500 m (4,900 ft) and the deepest recorded point is 5,109 ± 1 m (16,762 ± 3 ft) in

1674-677: The Italian Lakes (Po). While the Mediterranean watershed is bordered by other river basins in Europe, it is essentially bordered by endorheic basins or deserts elsewhere. The following countries are in the Mediterranean drainage basin while not having a coastline on the Mediterranean Sea: The following countries have a coastline on the Mediterranean Sea: Several other territories also border

1767-735: The Italian city-states like Amalfi and Genoa before the Crusades, according to the Cairo Geniza documents. A document dated 996 mentions Amalfian merchants living in Cairo . Another letter states that the Genoese had traded with Alexandria . The caliph al-Mustansir had allowed Amalfian merchants to reside in Jerusalem about 1060 in place of the Latin hospice . The Crusades led to

1860-546: The Mediterranean , becoming a major trading power by the 9th century BCE. Phoenician merchant traders imported and exported wood, textiles, glass and produce such as wine, oil, dried fruit and nuts. Their trading necessitated a network of colonies along the Mediterranean coast, stretching from modern-day Crete through to Tangiers (in present-day Morocco ) and northward to Sardinia . The Phoenicians not only traded in tangible goods, but were also instrumental in transporting

1953-756: The Messinian salinity crisis before being refilled by the Zanclean flood about 5.3 million years ago. The Mediterranean Sea covers an area of about 2,500,000 km (970,000 sq mi), representing 0.7% of the global ocean surface, but its connection to the Atlantic via the Strait of Gibraltar —the narrow strait that connects the Atlantic Ocean to the Mediterranean Sea and separates

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2046-715: The Punic Wars in the 3rd and 2nd centuries BC, the Roman Republic defeated the Carthaginians to become the preeminent power in the Mediterranean. When Augustus founded the Roman Empire , the Romans referred to the Mediterranean as Mare Nostrum ("Our Sea"). For the next 400 years, the Roman Empire completely controlled the Mediterranean Sea and virtually all its coastal regions from Gibraltar to

2139-641: The Red Sea ) and white to west. That would explain the Bulgarian Byalo More , the Turkish Akdeniz , and the Arab nomenclature described above, lit. "White Sea". Major ancient civilizations were located around the Mediterranean. The sea provided routes for trade, colonization, and war, as well as food (from fishing and the gathering of other seafood) for numerous communities throughout

2232-559: The Roman Empire , Mare Nostrum ("Our Sea"). The term Mare Mediterrāneum appears later: Solinus apparently used this in the 3rd century, but the earliest extant witness to it is in the 6th century, in Isidore of Seville . It means 'in the middle of land, inland' in Latin , a compound of medius ("middle"), terra ("land, earth"), and -āneus ("having the nature of"). The modern Greek name Μεσόγειος Θάλασσα ( mesógeios ; "inland")

2325-528: The "Syrian Sea". In ancient Syrian texts, Phoenician epics and in the Hebrew Bible , it was primarily known as the "Great Sea", הים הגדול HaYam HaGadol , ( Numbers ; Book of Joshua ; Ezekiel ) or simply as "The Sea" ( 1 Kings ). However, it has also been called the "Hinder Sea" because of its location on the west coast of the region of Syria or the Holy Land (and therefore behind a person facing

2418-591: The 1530s. These included including Georg Giese of Danzig ; Hillebrant Wedigh of Cologne ; Dirk Tybis of Duisburg ; Hans of Antwerp , Hermann Wedigh, Johann Schwarzwald, Cyriacus Kale, Derich Born and Derick Berck. Paintings of groups of merchants, notably officers of the merchant guilds, also became subject matter for artists and documented the rise of important mercantile organisations. In 2022, Dutch photographer Loes Heerink spend hours on bridges in Hanoi to take pictures of Vietnamese street Merchants. She published

2511-579: The 16th century and also maintained naval bases in southern France (1543–1544), Algeria and Tunisia. Barbarossa , the Ottoman captain is a symbol of this domination with the victory of the Battle of Preveza (1538). The Battle of Djerba (1560) marked the apex of Ottoman naval domination in the eastern Mediterranean. As the naval prowess of the European powers increased, they confronted Ottoman expansion in

2604-537: The 17th century. They stood out in international trade due to their vast network – mostly built by Armenian migrants spread across Eurasia. Armenians had established prominent trade-relations with all big export players such as India, China, Persia, the Ottoman Empire, England, Venice, the Levant, etc. Soon they captured Eastern and Western Europe, Russia, the Levant, the Middle East, Central Asia, India, and

2697-477: The 18th century with governmental encouragement of nobles to invest in trade, and the lifting of old bans on nobles engaging in economic activities. As Britain continued colonial expansion , large commercial organisations came to provide a market for more sophisticated information about trading conditions in foreign lands. Daniel Defoe ( c. 1660–1731), a London merchant, published information on trade and economic resources of England, Scotland and India. Defoe

2790-469: The 21st century. Elizabeth Honig has argued that artists, especially the painters of Antwerp , developed a fascination with merchants from the mid-16th century. The wealthier merchants also had the means to commission artworks with the result that individual merchants and their families became important subject matter for artists. For instance, Hans Holbein the younger painted a series of portraits of Hanseatic merchants working out of London's Steelyard in

2883-524: The 7th century, and with it the religion of Islam , which soon swept across from the east; at its greatest extent, the Arabs, under the Umayyads , controlled most of the Mediterranean region and left a lasting footprint on its eastern and southern shores. A variety of foodstuffs, spices and crops were introduced to the western Mediterranean's Spain and Sicily during Arab rule, via the commercial networks of

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2976-411: The European medieval period , a rapid expansion in trade and commerce led to the rise of a wealthy and powerful merchant class . The European Age of Discovery opened up new trading routes and gave European consumers access to a much broader range of goods. By the 18th century, a new type of manufacturer-merchant had started to emerge and modern business practices were becoming evident. The status of

3069-548: The Far East trade routes, carrying out mostly caravan -trade activities. A significant reason for Armenians' massive involvement in international trade was their geographic location – the Armenian lands stand at the crossroads between Asia and Europe. Another reason was their religion, as they were a Christian nation isolated between Muslim Iran and Muslim Turkey. European Christians preferred to carry out trade with Christians in

3162-655: The Islamic world. These include sugarcane, rice, cotton, alfalfa, oranges, lemons, apricots, spinach, eggplants, carrots, saffron and bananas. The Arabs also continued extensive cultivation and production of olive oil (the Spanish words for 'oil' and 'olive'— aceite and aceituna , respectively—are derived from the Arabic al-zait , meaning 'olive juice'), and pomegranates (the heraldic symbol of Granada) from classical Greco-Roman times. The Arab invasions disrupted

3255-549: The Levant, being the only state in history to ever do so, being given the nickname "Roman Lake". The Western Roman Empire collapsed around 476 AD. The east was again dominant as Roman power lived on in the Byzantine Empire formed in the 4th century from the eastern half of the Roman Empire . Though the Eastern Roman Empire would continue to hold almost all of the Mediterranean, another power arose in

3348-432: The Mediterranean Sea (from west to east): Merchant A merchant is a person who trades in commodities produced by other people, especially one who trades with foreign countries. Merchants have been known for as long as humans have engaged in trade and commerce. Merchants and merchant networks operated in ancient Babylonia , Assyria , China , Egypt , Greece , India , Persia , Phoenicia and Rome . During

3441-852: The Mediterranean Sea is the Nile , which takes its sources in equatorial Africa. The basin of the Nile constitutes about two-thirds of the Mediterranean drainage basin and encompasses areas as high as the Ruwenzori Mountains . Among other important rivers in Africa, are the Moulouya and the Chelif , both on the north side of the Atlas Mountains . In Asia, are the Ceyhan and Seyhan , both on

3534-509: The Mediterranean Sea to the Red Sea without ship lock, because the water level is essentially the same. The westernmost point of the Mediterranean is located at the transition from the Alborán Sea to the Strait of Gibraltar, the easternmost point is on the coast of the Gulf of Iskenderun in southeastern Turkey. The northernmost point of the Mediterranean is on the coast of the Gulf of Trieste near Monfalcone in northern Italy while

3627-525: The Mediterranean towards East Africa and Asia. This led to a preference for the Mediterranean countries and their ports like Trieste with direct connections to Central and Eastern Europe experienced a rapid economic rise. In the 20th century, the 1st and 2nd World Wars as well as the Suez Crisis and the Cold War led to a shift of trade routes to the European northern ports, which changed again towards

3720-509: The Mediterranean; its fame travelled as far away as modern southern France. Other notable Roman merchants included Marcus Julius Alexander (16 – 44 CE), Sergius Orata (fl. c. 95 BCE) and Annius Plocamus (1st century CE). In the Roman world, local merchants served the needs of the wealthier landowners. While the local peasantry, who were generally poor, relied on open-air market places to buy and sell produce and wares, major producers such as

3813-632: The Middle English, marchant , which is derived from Anglo-Norman marchaunt , which itself originated from the Vulgar Latin mercatant or mercatans , formed from present participle of mercatare ('to trade, to traffic or to deal in'). The term refers to any type of reseller, but can also be used with a specific qualifier to suggest a person who deals in a given characteristic such as speed merchant , which refer to someone who enjoys fast driving; noise merchant , which refers to

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3906-469: The Roman wholesale market from Arabia. For Roman consumers, the purchase of goods from the East was a symbol of social prestige . Medieval England and Europe witnessed a rapid expansion in trade and the rise of a wealthy and powerful merchant class. Blintiff has investigated the early Medieval networks of market towns and suggests that by the 12th century there was an upsurge in the number of market towns and

3999-456: The Romans did not consider the activities of merchants "respectable". In the ancient cities of the Middle East, where the bazaar was the city's focal point and heartbeat, merchants who worked in bazaar enjoyed high social status and formed part of local elites. In Medieval Western Europe, the Christian church, which closely associated merchants' activities with the sin of usury , criticised

4092-581: The US and in the Russian Empire), while still others made fortunes from exploiting new inventions – selling space on and commodities carried by railways and steamships. In fully planned economies of the 20th century, planners replaced merchants in organising the distribution of goods and services . However, merchants, increasingly labelled with euphemisms such as "industrialists", "businessmen", "entrepreneurs" or "oligarchs" , continue their activities in

4185-404: The act of shopping came to be seen as a pleasurable pastime or form of entertainment. 16th century Spanish and 17th century English nobles had been enticed into participating in trade by the profitability of colonial expeditions. In the 17th century, members of the nobility in many European countries like France or Spain still disliked engaging in merchant activities, but such attitudes changed in

4278-700: The ages. The earliest advanced civilizations in the Mediterranean were the Egyptians and the Minoans , who traded extensively with each other. Other notable civilizations that appeared somewhat later are the Hittites and other Anatolian peoples , the Phoenicians , and Mycenean Greece . Around 1200 BC the eastern Mediterranean was greatly affected by the Bronze Age Collapse , which resulted in

4371-407: The area as generic Mediterranean Sea, in the Western Basin. It does not recognize the label Sea of Sardinia . Note 2: Thracian Sea and Myrtoan Sea are seas that are part of the Aegean Sea . Note 3: The Black Sea is not considered part of it. The International Hydrographic Organization defines the limits of the Mediterranean Sea as follows: Stretching from the Strait of Gibraltar in

4464-493: The charters granted to market towns . In the early 12th century, a confederation of merchant guilds, formed out the German cities of Lübeck and Hamburg, known as "The Hanseatic League " came to dominate trade around the Baltic Sea . By the 13th and 14th centuries, merchant guilds had sufficient resources to have erected guild halls in many major market towns. During the thirteenth century, European businesses became more permanent and were able to maintain sedentary merchants and

4557-512: The destruction of many cities and trade routes. The most notable Mediterranean civilizations in classical antiquity were the Greek city states and the Phoenicians , both of which extensively colonized the coastlines of the Mediterranean. Darius I of Persia , who conquered Ancient Egypt, built a canal linking the Red Sea to the Nile, and thus the Mediterranean. Darius's canal was wide enough for two triremes to pass each other with oars extended and required four days to traverse. Following

4650-402: The development of large trading companies. These developments also triggered innovations such as double-entry book-keeping, commercial accountancy, international banking including access to lines of credit, marine insurance and commercial courier services. These developments are sometimes known as the commercial revolution. Luca Clerici has made a detailed study of Vicenza's food market during

4743-420: The east), which is sometimes translated as "Western Sea". Another name was the "Sea of the Philistines ", ( Book of Exodus ), from the people inhabiting a large portion of its shores near the Israelites . In Modern Hebrew , it is called הים התיכון HaYam HaTikhon 'the Middle Sea'. In Classic Persian texts was called Daryāy-e Šām (دریای شام) "The Western Sea" or "Syrian Sea". In Modern Standard Arabic , it

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4836-747: The eighteenth century, a new type of manufacturer-merchant was emerging and modern business practices were becoming evident. Many merchants held showcases of goods in their private homes for the benefit of wealthier clients. Samuel Pepys , for example, writing in 1660, describes being invited to the home of a retailer to view a wooden jack. McKendrick, Brewer and Plumb found extensive evidence of eighteenth-century English entrepreneurs and merchants using "modern" marketing techniques, including product differentiation , sales promotion and loss-leader pricing. English industrialists, Josiah Wedgewood (1730–1795) and Matthew Boulton (1728–1809), are often portrayed as pioneers of modern mass-marketing methods. Wedgewood

4929-405: The emergence of merchant circuits as traders bulked up surpluses from smaller regional, different day markets and resold them at the larger centralised market towns. Peddlers or itinerant merchants filled any gaps in the distribution system. From the 11th century, the Crusades helped to open up new trade routes in the Near East, while the adventurer and merchant, Marco Polo stimulated interest in

5022-443: The entire Mediterranean. Once, most of the trade between Western Europe and the East was passing through the region , but after the 1490s the development of a sea route to the Indian Ocean allowed the importation of Asian spices and other goods through the Atlantic ports of western Europe. The sea remained strategically important. British mastery of Gibraltar ensured their influence in Africa and Southwest Asia. Especially after

5115-460: The far East in the 13th century. Medieval merchants began to trade in exotic goods imported from distant shores including spices, wine, food, furs, fine cloth (notably silk), glass, jewellery and many other luxury goods . Market towns began to spread across the landscape during the medieval period. Merchant guilds began to form during the Medieval period. A fraternity formed by the merchants of Tiel in Gelderland (in present-day Netherlands) in 1020

5208-401: The fine cloth imports while the Hanseatic League controlled most of the trade in the Baltic Sea. A detailed study of European trade between the thirteenth and fifteenth century demonstrates that the European age of discovery acted as a major driver of change. In 1600, goods travelled relatively short distances: grain 5–10 miles; cattle 40–70 miles; wool and wollen cloth 20–40 miles. However, in

5301-412: The floor of his atrium were decorated with images of amphorae bearing his personal brand and inscribed with quality claims. One of the inscriptions on the mosaic amphora reads "G(ari) F(los) SCO[m]/ SCAURI/ EX OFFI[ci]/NA SCAU/RI" which translates as "The flower of garum, made of the mackerel, a product of Scaurus, from the shop of Scaurus". Scaurus' fish sauce had a reputation for very high quality across

5394-399: The flourishing of trade between Europe and the outremer region. Genoa, Venice and Pisa created colonies in regions controlled by the Crusaders and came to control the trade with the Orient. These colonies also allowed them to trade with the Eastern world. Though the fall of the Crusader states and attempts at banning of trade relations with Muslim states by the Popes temporarily disrupted

5487-439: The goods were on open display, allowing buyers to evaluate quality directly through visual inspection. Relationships between merchant and consumer were minimal often playing into public concerns about the quality of produce. The Phoenicians became well known amongst contemporaries as "traders in purple" – a reference to their monopoly over the purple dye extracted from the murex shell. The Phoenicians plied their ships across

5580-505: The great estates were sufficiently attractive for merchants to call directly at their farm-gates. The very wealthy landowners managed their own distribution, which may have involved exporting. Markets were also important centres of social life, and merchants helped to spread news and gossip. The nature of export markets in antiquity is well documented in ancient sources and in archaeological case-studies. Both Greek and Roman merchants engaged in long-distance trade. A Chinese text records that

5673-515: The highest level of exchange, they transferred a more outward-looking mindset and system of values to their commercial-exchange transactions, and also helped to disseminate a more global awareness to broader society and therefore acted as agents of change for local society. Successful, open-minded cosmopolitan merchants began to acquire a more esteemed social position within the political elites. They were often sought as advisors for high-level political agents. The English nabobs belong to this era. By

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5766-436: The immediate coastline on all sides of the Mediterranean tends to have strong maritime moderation. The sea was an important route for merchants and travellers of ancient times, facilitating trade and cultural exchange between the peoples of the region. The history of the Mediterranean region is crucial to understanding the origins and development of many modern societies. The Roman Empire maintained nautical hegemony over

5859-588: The major ranges bordering Southern Europe. Total annual precipitation is significantly higher on the European part of the Mediterranean basin, especially near the Alps (the 'water tower of Europe') and other high mountain ranges. As a consequence, the river discharges of the Rhône and Po are similar to that of the Nile, despite the latter having a much larger basin. These are the only three rivers with an average discharge of over 1,000 m /s (35,000 cu ft/s). Among large natural fresh bodies of water are Lake Victoria (Nile basin), Lake Geneva (Rhône), and

5952-452: The merchant class, strongly influencing attitudes towards them. In Greco-Roman society, merchants typically did not have high social status, though they may have enjoyed great wealth. Umbricius Scauras, for example, was a manufacturer and trader of garum in Pompeii, circa 35 C.E. His villa, situated in one of the wealthier districts of Pompeii, was very large and ornately decorated in a show of substantial personal wealth. Mosaic patterns in

6045-487: The merchant has varied during different periods of history and among different societies. In modern times, the term merchant has occasionally been used to refer to a businessperson or someone undertaking activities (commercial or industrial) for the purpose of generating profit, cash flow, sales, and revenue using a combination of human, financial, intellectual and physical capital with a view to fueling economic development and growth. The English term, merchant comes from

6138-414: The migrants and arrest the traffickers of immigrants. In 2015, more than one million migrants crossed the Mediterranean Sea into Europe. Italy was particularly affected by the European migrant crisis . Since 2013, over 700,000 migrants have landed in Italy, mainly sub-Saharan Africans. The Mediterranean Sea connects: The 163 km (101 mi) long artificial Suez Canal in the southeast connects

6231-435: The naval battles of Abukir (1799, Battle of the Nile ) and Trafalgar (1805), the British had for a long time strengthened their dominance in the Mediterranean. Wars included Naval warfare in the Mediterranean during World War I and Mediterranean theatre of World War II . With the opening of the lockless Suez Canal in 1869, the flow of trade between Europe and Asia changed fundamentally. The fastest route now led through

6324-525: The nobility. This trading system supported various levels of pochteca – from very high status merchants through to minor traders who acted as a type of peddler to fill in gaps in the distribution system. The Spanish conquerors commented on the impressive nature of the local and regional markets in the 15th century. The Mexica ( Aztec ) market of Tlatelolco was the largest in all the Americas and said to be superior to those in Europe. In much of Renaissance Europe and even after, merchant trade remained seen as

6417-431: The north by Anatolia in West Asia and Southern Europe , on the south by North Africa , and on the west almost by the Morocco–Spain border . The Mediterranean has played a central role in the history of Western civilization . Geological evidence indicates that around 5.9 million years ago, the Mediterranean was cut off from the Atlantic and was partly or completely desiccated over a period of some 600,000 years during

6510-428: The number of drowned refugees in the region as a direct result of the policies. An Azerbaijani official described the sea as "a burial ground ... where people die". Following the 2013 Lampedusa migrant shipwreck , the Italian government decided to strengthen the national system for the patrolling of the Mediterranean Sea by authorising " Operation Mare Nostrum ", a military and humanitarian mission in order to rescue

6603-401: The presumed distastefulness of profiting from "mere" trade rather than from labor or the labor of others as in agriculture and craftsmanship . The Romans defined merchants or traders in a very narrow sense. Merchants were those who bought and sold goods, while landowners who sold their own produce were not classed as merchants. Being a landowner was a "respectable" occupation. On the other hand,

6696-613: The region when the Battle of Lepanto (1571) checked the power of the Ottoman Navy . This was the last naval battle to be fought primarily between galleys . The Barbary pirates of Northwest Africa preyed on Christian shipping and coastlines in the Western Mediterranean Sea. According to Robert Davis, from the 16th to 19th centuries, pirates captured 1 million to 1.25 million Europeans as slaves. The development of oceanic shipping began to affect

6789-491: The region. Eighteenth-century merchants who traded in foreign markets developed a network of relationships which crossed national boundaries, religious affiliations, family ties, and gender. The historian, Vannneste, has argued that a new " cosmopolitan merchant mentality" based on trust, reciprocity and a culture of communal support developed and helped to unify the early modern world. Given that these cosmopolitan merchants were embedded within their societies and participated in

6882-424: The sake of the publicity and kudos generated. Both Wedgewood and Boulton staged expansive showcases of their wares in their private residences or in rented halls. Eighteenth-century American merchants, who had been operating as importers and exporters, began to specialise in either wholesale or retail roles. They tended not to specialise in particular types of merchandise, often trading as general merchants, selling

6975-468: The sea for centuries and is the only state to have ever controlled all of its coast. The countries surrounding the Mediterranean and its marginal seas in clockwise order are Spain , France , Monaco , Italy , Slovenia , Croatia , Bosnia and Herzegovina , Montenegro , Albania , Greece , Turkey , Syria , Lebanon , Israel , Palestine ( Gaza Strip ), Egypt , Libya , Tunisia , Algeria , and Morocco ; Cyprus and Malta are island countries in

7068-617: The sea. In addition, Northern Cyprus ( de facto state ) and two overseas territories of the United Kingdom ( Akrotiri and Dhekelia , and Gibraltar ) also have coastlines along the Mediterranean Sea. The drainage basin encompasses a large number of other countries, the Nile being the longest river ending in the Mediterranean Sea. The Ancient Egyptians called the Mediterranean Wadj-wr/Wadj-Wer/Wadj-Ur. This term (literally "great green")

7161-476: The shortest shipping route between the multinational Gulf of Trieste and the Libyan coastline of the Gulf of Sidra is about 1,900 kilometres (1,200 mi). The water temperatures are mild in winter and warm in summer and give name to the Mediterranean climate type due to the majority of precipitation falling in the cooler months. Its southern and eastern coastlines are lined with hot deserts not far inland, but

7254-431: The sixteenth century. He found that there were many different types of merchants operating out of the markets. For example, in the dairy trade, cheese and butter was sold by the members of two craft guilds (i.e., cheesemongers who were shopkeepers) and that of the so-called ‘resellers’ (hucksters selling a wide range of foodstuffs), and by other sellers who were not enrolled in any guild. Cheesemongers’ shops were situated at

7347-788: The south side of the Taurus Mountains . In Europe, the largest basins are those of the Rhône , Ebro , Po , and Maritsa . The basin of the Rhône is the largest and extends up as far north as the Jura Mountains , encompassing areas even on the north side of the Alps . The basins of the Ebro, Po, and Maritsa, are respectively south of the Pyrenees , Alps, and Balkan Mountains , which are

7440-584: The southern ports through European integration, the activation of the Silk Road and free world trade. In 2013, the Maltese president described the Mediterranean Sea as a "cemetery" due to the large number of migrants who drowned there after their boats capsized. European Parliament president Martin Schulz said in 2014 that Europe's migration policy "turned the Mediterranean into a graveyard", referring to

7533-599: The southernmost point is on the coast of the Gulf of Sidra near the Libyan town of El Agheila . Large islands in the Mediterranean include: The Alpine arc , which also has a great meteorological impact on the Mediterranean area, touches the Mediterranean in the west in the area around Nice . The typical Mediterranean climate has hot, dry summers and mild, rainy winters. Crops of the region include olives , grapes , oranges , tangerines , carobs and cork . The Mediterranean Sea includes 15 marginal seas : Note 1: The International Hydrographic Organization defines

7626-660: The term was later extended to the whole Mediterranean, it was also called Baḥr al-Maghrib ( بحر المغرب ) ("the Sea of the West"). A name that was used mainly for the western basin. In Turkish , it is the Akdeniz 'the White Sea'; in Ottoman, ﺁق دڭيز , which sometimes means only the Aegean Sea . The origin of the name is not clear, as it is not known in earlier Greek, Byzantine or Islamic sources. It may be to contrast with

7719-595: The town hall and were very lucrative. Resellers and direct sellers increased the number of sellers, thus increasing competition, to the benefit of consumers. Direct sellers, who brought produce from the surrounding countryside, sold their wares through the central market place and priced their goods at considerably lower rates than cheesemongers. From 1300 through to the 1800s a large number of European chartered and merchant companies were established to exploit international trading opportunities. The Company of Merchant Adventurers of London , chartered in 1407, controlled most of

7812-672: The trade in western Europe and brought it to a halt. However, the Norsemen developed the trade from Norway to the White Sea , while also trading in luxury goods from Spain and the Mediterranean. The Byzantines in the mid-8th century retook control of the area around the north-eastern part of the Mediterranean. Venetian ships from the 9th century armed themselves to counter the harassment by Arabs while concentrating trade of Asian goods in Venice. The Fatimids maintained trade relations with

7905-600: The trade relations between Western and Eastern Europe while disrupting trade routes with Eastern Asian Empires. This, however, had the indirect effect of promoting trade across the Caspian Sea . The export of grains from Egypt was re-routed towards the Eastern world . Products from East Asian empires, like silk and spices, were carried from Egypt under the Arab rule to ports like Venice and Constantinople by sailors and Jewish merchants. The Viking raids further disrupted

7998-702: The trade with the Orient, it however continued. Europe started to revive, however, as more organized and centralized states began to form in the later Middle Ages after the Renaissance of the 12th century . Ottoman power based in Anatolia continued to grow, and in 1453 extinguished the Byzantine Empire with the Conquest of Constantinople . Ottomans gained control of much of the eastern part sea in

8091-524: The trappings of culture. The Phoenicians' extensive trade networks necessitated considerable book-keeping and correspondence. In around 1500 BCE, the Phoenicians developed a script which was much easier to learn than the pictographic systems used in ancient Egypt and Mesopotamia. Phoenician traders and merchants were largely responsible for spreading their alphabet around the region. Phoenician inscriptions have been found in archaeological sites at

8184-657: The west to the entrances to the Dardanelles and the Suez Canal in the east, the Mediterranean Sea is bounded by the coasts of Europe, Africa, and Asia and is divided into two deep basins: The drainage basin of the Mediterranean Sea is particularly heterogeneous and extends much further than the Mediterranean region. Its size has been estimated between 4,000,000 and 5,500,000 km (1,500,000 and 2,100,000 sq mi), depending on whether non-active parts (deserts) are included or not. The longest river ending in

8277-622: The years following the opening up of Asia and the discovery of the New World, goods were imported from very long distances: calico cloth from India, porcelain, silk and tea from China, spices from India and South-East Asia and tobacco, sugar, rum and coffee from the New World. In Mesoamerica, a tiered system of traders developed independently. The local markets, where people purchased their daily needs were known as tianguis while pochteca referred to long-distance, professional merchants traders who obtained rare goods and luxury items desired by

8370-543: Was a prolific pamphleteer. His many publications include titles devoted to trade, including: Trade of Britain Stated (1707); Trade of Scotland with France (1713); The Trade to India Critically and Calmly Considered (1720) and A Plan of the English Commerce (1731); all pamphlets that became highly popular with contemporary merchants and business houses. Armenians operated as a prominent trade nation during

8463-420: Was able to generate higher overall profits. Similarly, one of Wedgewood's contemporaries, Matthew Boulton, pioneered early mass-production techniques and product differentiation at his Soho Manufactory in the 1760s. He also practiced planned obsolescence and understood the importance of " celebrity marketing " – that is supplying the nobility, often at prices below cost – and of obtaining royal patronage , for

8556-494: Was known to have used marketing techniques such as direct mail , travelling salesmen and catalogues in the eighteenth century. Wedgewood also carried out serious investigations into the fixed and variable costs of production and recognised that increased production would lead to lower unit-costs. He also inferred that selling at lower prices would lead to higher demand and recognised the value of achieving scale economies in production. By cutting costs and lowering prices, Wedgewood

8649-734: Was the name given by the Ancient Egyptians to the semi-solid, semi-aquatic region characterized by papyrus forests to the north of the cultivated Nile delta, and, by extension, the sea beyond. The Ancient Greeks called the Mediterranean simply ἡ θάλασσα ( hē thálassa ; "the Sea") or sometimes ἡ μεγάλη θάλασσα ( hē megálē thálassa ; "the Great Sea"), ἡ ἡμετέρα θάλασσα ( hē hēmetérā thálassa ; "Our Sea"), or ἡ θάλασσα ἡ καθ’ ἡμᾶς ( hē thálassa hē kath’hēmâs ; "the sea around us"). The Romans called it Mare Magnum ("Great Sea") or Mare Internum ("Internal Sea") and, starting with

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