Numerous times in the past the fate of Ghent has been decided upon on this beautiful market square. It is called the 'Friday Market' (or Vrijdagmarkt in Dutch) for the simple reason that on Fridays a market takes place here. The market has been witness to numerous celebrations as well as battles. Everything that happened here was related to the activities of the corporations of which the weavers and the traders were the most powerful. During the Middle-Ages the fate of Ghent largely depended on the wool trade and industry. When the wool industry flourished, so did the rest of the city.