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Using a wide range of various sources (legislative, private legal, and narrative) the author of the monograph investigates business world of London of the 14th — 16th centuries which can be seen from three main angles. These are society and power, economic activity, private life and values. The author shows that in the 14th — 16th centuries London and its business world were the most mature clearly reflecting the leading tendencies in town life development of the transitional period from the Middle Ages to the Modern Time.

A complex of various types of activities: trade, lending operations, crown financing, production and entrepreneurship, investment into real estate in towns and counts of England, and participation in the political life and governance of London was a sign of belonging to a business community. Such a diversity of activities was typical of the majority of men of business, especially aldermen who made not only the richest and the most commercially active part of society but also formed the ruling elite of the city.

Formation of London's alderman institution took place together with the development of the city and establishment of its main social and political functions by the beginning of the 13th century. It was by that time that London had become a generally recognized leading economic center, an official capital of the kingdom and had acquired the status of the most privileged city of England.

According to the town law aldermen election criteria were the following. First of all, it was being a part of the community of freemen, rightful townspeople, who, besides other privileges, had the right to participate in elections of the town's officials and formation of the town's local authority. They were also obliged to be members of one of the Great Twelve Livery Companies of London — merchants of luxury goods, ready-made clothes, ironmongers, wine merchants, traders of salt, spice merchants, wool and cloth merchants, grocers, fishmongers, jewelers, and fur traders. It is important to note that aldermen were included in the limited but richest and the most influential part of the company — the top of the livery. In fact, the position of the alderman was in the hands of the richest merchants. Thirdly, for being elected an alderman there was a certain property qualification in 1000 pounds “in goods and loans” in the 14th — 15th centuries and in 1.500 pounds “in goods, loans and lands” in the 16th century. In 1413 another criterion was recorded: only a native Englishman could become an alderman of London.