Not really true, medieval merchants and cities grew fabulously wealthy despite the medieval custom of price caps and the robber barons. At the top were banks like the Medicis and Fuggers whomst could finance entire states and influence events.

Cities held the same status as an earl in the feudal hierarchy, they were quite large and powerful in their own right and an important source of income for their patron who would act to protect them if necessary. This probably benefited the merchants as they could start to act like minor nobility, purchasing land and hiring private armies.

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