‘Our land is only founded on trade and industry.’ Economic discourses in fifteenth-century Bruges

Economic historians study production, consumption, market phenomena, and economic policies, while what is referred to as ‘the history of medieval economic thought’ largely remains the province of historians of ideas. However, participants in medieval industry and commerce, informed by daily production, market and financial practices, also uttered discourses on the state of the economy and on the measures governments should take to resolve crises or economic decline. When the burghers of Bruges formulated their economic demands in times of crisis, such as during the revolt of 1488, their utterances reveal commonly accepted presuppositions of which institutional levels, the prince, the town, or the guilds, should stimulate the economy by reducing transaction costs.