How did European economies change in the late middle ages?

Answer 1

Trade routes began to open up and the power of the Catholic Church began to wane. Those both made the spread of ideas, technology, and trade more possible.

The trade routes allowed more goods to flow into Europe. The increase in goods allowed more people than just the very wealthy to buy them, making even more trade.

Technology was allowed to be advanced since the RCC couldn't control everything and censor what they didn't like.

Various classical ideas that had been lost before were found again and new ideas were brought in from other parts of the world.

Answer 2

The waning power of the Roman Catholic Church allowed the spread of trade into lands controlled by "heathens" such as Muslims and Hindi. The Church neverallowed free trade with these powers before without the traveller/trader denouncing the heathens while cynically making money, some of which went to the Church in tithing and taxes!

Also, the waning power of the Church allowed Christians to finally begin to lend money. St Paul, and his followers at the Council of Nicea had forbidden Xtians from being usurors, money lenders. The late middle ages finally saw Christians enter the world of banking, an area that had been occupied by Jews.