Photos

Spending a few days in Augsburg. My main interest here is the Fuggerei, a 500 year old closed settlement within the city, reminding one of the béguinages you find in Belgium (eg Bruges and Ghent).
If you'd list the places connected to the origins of capitalism, Augsburg would certainly rank very high and the Fugger family is the central actor in this. The Fuggers not only were instrumental in the election of Charles V, they also financed Ferdinand of Austria (brother of Emperor Charles) and the pope. Their trade empire -including mining (copper), spice-trade, banking and even the very profitable trade in papal indulgences- was the largest ever seen up to that time. Although the Fuggers had no scruples when it came to making money -the financing of mercenary armies was a common means in their politics- they are also remembered for helping the poor of their hometown, Augsburg. The Fuggerei consisted of 52 well build houses that could be rented by poor families for a symbolic 1 florin/year + 3 daily prayers for the Fugger family.