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Monks and MarketsDurham Cathedral Priory 1460-1520$
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Miranda Threlfall-Holmes

Print publication date: 2005

Print ISBN-13: 9780199253814

Published to Oxford Scholarship Online: January 2010

DOI: 10.1093/acprof:oso/9780199253814.001.0001

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(p.220) 7 Conclusion
Monks and Markets

Miranda Threlfall-Holmes (Contributor Webpage)

Oxford University Press

This book gives a unique insight into the purchasing strategies practised by a major medieval consumer. The monks were sophisticated consumers, making rational and informed choices, taking into account availability, price movements, and transaction costs, and deploying a variety of purchasing strategies as appropriate. Furthermore, the degree to which the economic activity of the priory can be seen to have been inextricably intertwined with its social and religious activity is unprecedented. The standard of living enjoyed by the monks is revealed to have been a complex mixture of the aristocratic and the merely genteel. In addition, the evidence of the priory's purchasing illuminates the economic well-being and the nature of trade in the north-east region as a whole and in Newcastle-upon-Tyne in particular.

Keywords:   purchasing, medieval consumer, Newcastle-upon-Tyne, transaction costs, availability, price movements

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