A01=Jeannette Graulau
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agriculture
archival research
Author_Jeannette Graulau
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Category1=Non-Fiction
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Category=JPA
Category=KCZ
Category=NHDJ
COP=United States
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early capitalism
entrepreneurial history
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eq_business-finance-law
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Language_English
medieval economy
medieval europe
medieval law
mining
origins of capitalism
ownership shares
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Price_€50 to €100
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silver
softlaunch
Product details
- ISBN 9780300218220
- Dimensions: 156 x 235mm
- Publication Date: 26 Nov 2019
- Publisher: Yale University Press
- Publication City/Country: US
- Product Form: Hardback
- Language: English
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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.
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.
Jeannette Graulau is associate professor of political science at Herbert H. Lehman College, The City University of New York.
