First published in 1932, this book looks at a period that has often been thought of as a time of general decline in the most characteristic features of medieval civilisation. While acknowledging decline in many areas during this period — the power of the Church, feudalism, guilds, the Hanseatic League, the autonomy of towns and the end of the two Roman empires — the author argues that there was also signs of development. National consciousness, the power of the bourgeoisie and trade and industry all rose markedly in this period alongside intellectual and artistic achievements outside of Italy. This book asserts that in amongst the failure and decline new forces were creating new substitutes.