marble slab in the Hagia Sophia bearing the name of Enrico Dandolo

Alexios I Comnenus, Economics & Long Term Consequences

Alexios I could not have anticipated this result when he signed his agreement with Venice in 1082. Guiscard’s menace was immediate and he had to address it, however he could manage it. Still, if Alexios’ understanding of economics had been better, he might have agreed to the concessions for a period of time, perhaps 10-20 years, limiting its impact on both the Byzantines and Venetians.