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jhuffman comments on Utopian hope versus reality - Less Wrong Discussion
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The set of average european noblemen from 500 years ago does not include 8th century anyones. Yes, I am aware that different people hold different opinions. You asked a very speculative question about what an average member might think. So, thats all I have to say about it.
Overall I think the nobility in Europe 500 years ago was probably closer to martial values than mercantile values. The difference between these two is what I tried to illustrate, with the example.
BTW A 14th century Italian also isn't someone who lived around 500 years ago either. The example wasn't directly about our 15th/16th century nobleman. Even more the average nobleman, was I think a knight, since they where the lowest and pretty common nobility.