That brand of capitalism that does not only rely on profit
The latest book by Luigino Bruni narrates the roots of our current Western-style economic structure
Before our current brand of capitalism and contemporary forms of production and enterprise, Europe experienced different varieties of capitalism. Knowing about these economic structures is still useful today, especially for those – entrepreneurs or managers – who deal every day with business, markets, profits and social responsibilities related to their economic activities, particularly when heeding that ancient varieties of capitalism were motivated and inspired by something larger and more complex than a mere financial interest in trading.
The latest book by Luigino Bruni (professor of Political Economy at the LUMSA University in Rome) encompasses all this, narrating the birth and development of that particular form of capitalism that played such a great part in the economic development of a few centuries ago.
Capitalismo meridiano. Alle radici dello spirito mercantile tra religione e profitto (Meridian capitalism. Getting to the roots of the trading spirit amidst religion and profit) tells us how, during the last stages of the Middle Ages, a kind of “great market economy protocol” arose, which subsequently, due to the Protestant Reformation, split into a form of Nordic capitalism, the inheritance of Luther and Calvin, and a meridian capitalism, the offspring of Tuscan mercatores and the teachings of Saint Francis. A very peculiar and complex process, which, in some ways, perpetuated the civic humanism of previous centuries while in others it distanced itself from it.
Bruni, using a language that requires much attention in order to catch every nuance, narrates the evolution and the characteristic traits of this way of doing business and trading. In particular, as mentioned above, the book (of around 200 pages) narrates the origins of meridian capitalism, highlighting its community-based, multiracial and relational features, with mostly male protagonists but also including some unexpected female presence, and with a particular focus on the entwined relationship between the attitude of merchants and mendicant friars. After a brilliant first chapter, which provides a general summary, Bruni tackles the key points of the story, through some peculiar analyses that he himself considers as probably the most interesting parts of the book (and with reason). Lingering on fundamental stages such as the Franciscan economy, controversies affecting some crucial economic concepts (then just as now), and the specific traits of “civil trade”, Bruni reaches the Counter-Reformation era, which, as we said, gave rise to different varieties of capitalism.
A brief yet intense book, to be read with great attention, this last literary effort by Luigino Bruni becomes a valuable tool of knowledge for those who, today, find themselves in the midst of current economic storms. In one passage, the author writes, “The European economy was conceived by a spirit larger than the trading spirit. And if it were to lose this larger spirit, it’d be in serious danger of extinguishing itself.”
Capitalismo meridiano. Alle radici dello spirito mercantile tra religione e profitto (Meridian capitalism. Getting to the roots of the trading spirit amidst religion and profit)
Luigino Bruni
Il Mulino, 2022
The latest book by Luigino Bruni narrates the roots of our current Western-style economic structure
Before our current brand of capitalism and contemporary forms of production and enterprise, Europe experienced different varieties of capitalism. Knowing about these economic structures is still useful today, especially for those – entrepreneurs or managers – who deal every day with business, markets, profits and social responsibilities related to their economic activities, particularly when heeding that ancient varieties of capitalism were motivated and inspired by something larger and more complex than a mere financial interest in trading.
The latest book by Luigino Bruni (professor of Political Economy at the LUMSA University in Rome) encompasses all this, narrating the birth and development of that particular form of capitalism that played such a great part in the economic development of a few centuries ago.
Capitalismo meridiano. Alle radici dello spirito mercantile tra religione e profitto (Meridian capitalism. Getting to the roots of the trading spirit amidst religion and profit) tells us how, during the last stages of the Middle Ages, a kind of “great market economy protocol” arose, which subsequently, due to the Protestant Reformation, split into a form of Nordic capitalism, the inheritance of Luther and Calvin, and a meridian capitalism, the offspring of Tuscan mercatores and the teachings of Saint Francis. A very peculiar and complex process, which, in some ways, perpetuated the civic humanism of previous centuries while in others it distanced itself from it.
Bruni, using a language that requires much attention in order to catch every nuance, narrates the evolution and the characteristic traits of this way of doing business and trading. In particular, as mentioned above, the book (of around 200 pages) narrates the origins of meridian capitalism, highlighting its community-based, multiracial and relational features, with mostly male protagonists but also including some unexpected female presence, and with a particular focus on the entwined relationship between the attitude of merchants and mendicant friars. After a brilliant first chapter, which provides a general summary, Bruni tackles the key points of the story, through some peculiar analyses that he himself considers as probably the most interesting parts of the book (and with reason). Lingering on fundamental stages such as the Franciscan economy, controversies affecting some crucial economic concepts (then just as now), and the specific traits of “civil trade”, Bruni reaches the Counter-Reformation era, which, as we said, gave rise to different varieties of capitalism.
A brief yet intense book, to be read with great attention, this last literary effort by Luigino Bruni becomes a valuable tool of knowledge for those who, today, find themselves in the midst of current economic storms. In one passage, the author writes, “The European economy was conceived by a spirit larger than the trading spirit. And if it were to lose this larger spirit, it’d be in serious danger of extinguishing itself.”
Capitalismo meridiano. Alle radici dello spirito mercantile tra religione e profitto (Meridian capitalism. Getting to the roots of the trading spirit amidst religion and profit)
Luigino Bruni
Il Mulino, 2022