The underground wealth of nations : On the capitalist origins of silver mining, A.D. 1150-1450 (2019)
Jeannette Graulau (Author)
Yale University Press
Edition Details: Book Series: Yale series in economic and financial history;
Physical Details: 373
Language: English
Silver mining was a capitalist business long before the supposed origin of modern capitalism. Hundreds of years before a sixteenth-century crisis in European agriculture led to the origins of capital, investment, and finance, the silver mining industry exhibited many of the features of modern capitalism. Silver mines were large-scale businesses that demanded large investments and steady cash flow, achieved by spreading that risk through fungible shares and creating legal structures to protect entrepreneurs from financial disaster. Jeannette Graulau argues that mining preceded agriculture as the first true capitalist enterprise of the modern world.
...MoreReview Karin A. Amundsen (Winter 2021) Review of "The underground wealth of nations : On the capitalist origins of silver mining, A.D. 1150-1450". Business History Review (pp. 856-859).
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