Final answer:
Charlemagne's economy lacked standard currency and bureaucracy, focusing on feudal obligations and territorial governance. Campaigns expanded territory and ties to the church, fostering the Carolingian Renaissance in culture and intellect that indirectly influenced the economy. Despite Charlemagne's global interactions, the economy was largely agrarian with supplemental trade and loot from military expeditions.
Step-by-step explanation:
Charlemagne's Economic Policies
During Charlemagne's rule, the economy of the Frankish realm was characterized by the absence of a standard currency and the reliance on feudal obligations. Despite the lack of an official bureaucracy and standing army, Charlemagne diligently worked to secure his empire. This involved organizing his territories into counties and marches, governed by counts and margraves, respectively. The counts were often Charlemagne's military followers or sometimes commoners without personal ties to the land they governed, ensuring loyalty to Charlemagne's authority. To protect and manage the empire, Charlemagne established royal inspectors to oversee these areas and maintain control.
Charlemagne's campaigns resulted in significant expansions of territory. This territorial growth, along with his close ties to the church, led to economic development, including the revival of interest in ancient texts and proper Latin. This intellectual and cultural revival, known as the Carolingian Renaissance, also had economic implications as it supported the creation of libraries and the education of priests. These activities not only fostered intellectual growth but also helped to standardize practices across the empire, facilitating administration and reducing the risks of rebellion.
As a globally minded ruler, Charlemagne maintained correspondence and facilitated trade with other cultures, including the Byzantine Empire and the Abbasid Caliphate. However, his empire was primarily self-contained, with local economies dominated by agriculture and trade among the regions he had united. This trade was supplemented by the spoils of Charlemagne's constant military campaigns and the trade of enslaved people on the eastern fringes of his kingdom with Al-Andalus.