That was the consensus and for all I know is still taught as the consensus.  But it's not quite, quite, accurate.

For example, the political leadership of England during most of this period was Monarchy supported by and supported land-based Aristocracy.  While the great merchants gained power during this period they never achieved Decision Making power.  An example of this, was a continuous un-met demand by the merchants for the King to do something about pirates infesting the English Channel.  It was only when the mayor of London fitted out a fleet, out of his own pocket, that piracy faded.  


She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre