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The Burden of Risk: Early Modern Maritime Enterprise and Varieties of Capitalism
Published online by Cambridge University Press: 06 March 2020
Abstract
This article discusses the complex issues behind the relation between national and global economic histories and the challenges of a comparative approach. On examining different national approaches (Italian and English) to the management of the early modern maritime sector, it will argue that this comparison allows a privileged view into different varieties of capitalism, highlighting fundamental differences in attitudes toward wage labor and risk management that still influence different approaches to economic activities today.
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- Research Article
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- Business History Review , Volume 94 , Issue 1: Italy and the Origins of Capitalism , Spring 2020 , pp. 179 - 200
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- Copyright © 2020 The President and Fellows of Harvard College
Footnotes
The research for this article was conducted thanks to funding from the European Research Council: ERC Grant agreement No. 284340: LUPE – Sailing into Modernity: Comparative Perspectives on the Sixteenth and Seventeenth Century European Economic Transition; and ERC Grant agreement No. 724544: AveTransRisk – Average – Transaction Costs and Risk Management during the First Globalization (Sixteenth–Eighteenth Centuries). I would like to thank Sophus Reinert and Bob Fredona for their invitation and the participants and audience of the March 2019 workshop Italy and the Origins of Capitalism at Harvard Business School for stimulating questions and comments. I would also like to thank Reinhold Mueller, Isabella Cecchini, Richard Blakemore, and the anonymous reviewer for their comments and suggestions. The usual disclaimers apply.
References
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45 See Fusaro, Maria, “Maritime History as Global History? The Methodological Challenges and a Future Research Agenda,” in Maritime History as Global History, ed. Fusaro, Maria and Polónia, Amélia (St. John's, NL, 2010), 267–82CrossRefGoogle Scholar. A further element needs to be taken into account, the peculiar English cultural phenomenon of sea-blindness. See Redford, Duncan, “The Royal Navy, Sea-Blindness and British National Identity,” in Maritime History and Identity: The Sea and Culture in the Modern World, ed. Redford, Duncan (London, 2014), 61–78Google Scholar.
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55 A copy of the parte is in Archivio di Stato di Venezia (hence ASV), Compilazione delle leggi, seconda serie, busta (hence b.) 23, Codici 241–242, carte (hence cc.) 33r–34r, (31 August 1602). Copies of the 1682 parti are in ASV, Cinque Savi alla Mercanzia, seconda serie, b. 91, (9 May 1682) and (8 August 1682). I follow Domenico Sella in discussing this as a clear antecedent, but I add a possibly direct inspiration, behind the English Navigation Acts in Fusaro, Political Economies of Empire, 201, 355, and bibliography therein quoted.
56 “Dovendo essi Patroni, ò Capitanj conrispondergli due mesate anticipatamente al montar in Nave, e per le susseguenti paghe gli siano corrisposti di mese in mese due terzi di esse, cosicchè al ritorno ne’ porti resti la marinarezza creditrice d'un terzo del servizio, onde dessumino [sic] essi Marineri motivo di non abbandonare le Navi, mà debbano ricondurle ne’ porti da dove si saranno partite.” For a copy of the Senate parte issuing the new regulation, see ASV, Cinque Savi alla Mercanzia, seconda serie, b. 91, (23 January 1682mv) (Note: in Venice the year started on 1 March; for dates between 1 January and the end of February, the abbreviation mv [more Veneto], shows that it is a date following the Venetian-style calendar, and therefore it is necessary to add a unit to the figure of the year). Its implementation is detailed in ASV, Cinque Savi alla Mercanzia, b. 369, fascicolo 35, (16 February 1682mv), chap. 13 of Capitoli di Regolazione alla Navigazion Mercantile. Discussed in Fusaro, “Invasion of Northern Litigants,” 38.
57 Some preliminary results of investigation into seamen's entrepreneurship on the global scale are in Fusaro, Maria, Blakemore, Richard J., Crivelli, Benedetta, Ekama, Kate J., Vanneste, Tijl, Lucassen, Jan, Rossum, Matthias van, Okabe, Yoshihiko, Hallén, Per, and Kane, Patrick M., “Entrepreneurs at Sea: Trading Practices, Legal Opportunities and Early Modern Globalization,” International Journal of Maritime History 28, no. 4 (2016): 774–86CrossRefGoogle Scholar.
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63 Todeschini, Ricchezza francescana, 186–87.
64 Which, mutatis mutandis, is also what was behind Frederic Lane's efforts to foster dialogue and debate on these issues, namely the establishment of yearly monographic issues on “the tasks of economic history” during his editorship of the Journal of Economic History; see, particularly, the issue titled “Formation and Development of Capitalism,” Journal of Economic History 29, no. 1 (1969)Google Scholar.
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66 As a starting point, see Chakrabarty, Dipesh, Provincializing Europe: Postcolonial Thought and Historical Difference (Princeton, 2000)Google Scholar.
67 See, among others, Hall and Soskice, Varieties of Capitalism.
68 Of the simply massive literature, just two classics: Williams, Eric, Capitalism and Slavery (Chapel Hill, 1944)Google Scholar; and Morgan, Kenneth, Slavery, Atlantic Trade and the British Economy, 1660–1800 (Cambridge, U.K., 2000)Google Scholar.
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70 See, for example, Stanziani, Alessandro, ed., Labour, Coercion, and Economic Growth in Eurasia (17th–20th Centuries) (Leiden, 2012)Google Scholar.
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