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The Ottoman Economy

How did the economic systems of the Ottomans compare to Western European economies? What role did trade play?

The cities of the Ottoman Empire brought together craftsmen skilled in carpentry, metal work, jewelry making, ceramics, and, most of all, textiles. Each group of highly trained workers formed a guild. A guild is a group of craftsmen led by experienced master craftsmen who train younger men and maintain high production standards. Joining a guild required years of training, which ensured that the guild's craftsmen would maintain a high-quality product. By limiting the size of membership, the guilds could also control competition and prevent their goods from flooding the marketplace, which would drive prices down and make their trade less profitable. Items produced by master craftsmen brought not just high prices, but admiration and respect for those who made them, too.

Study, then click these images to learn more about trade in the Ottoman Empire and the most prized Ottoman export—the Turkish rug.

By …trialsanderrors [CC-BY-2.0 (http://creativecommons.org/licenses/by/2.0)], via Wikimedia Commons

By Fabienkhan (personal picture) [GFDL (http://www.gnu.org/copyleft/fdl.html), CC-BY-SA-3.0 (http://creativecommons.org/licenses/by-sa/3.0/) or CC-BY-SA-2.5-2.0-1.0 (http://creativecommons.org/licenses/by-sa/2.5-2.0-1.0)], via Wikimedia Commons

Question

The first image describes the economy of the Ottoman Empire as a command economy. What does this mean?

A command economy is one which all economic transactions are controlled by a central authority. In the Ottoman Empire, this authority was the sultan.