Perspectives on the Origins of Merchant Capitalism in Europe

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Sociology & Anthropology Faculty Publications Sociology & Anthropology Department

Summer 2000

Eric Mielants Fairfield University, [email protected]

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Repository Citation Mielants, Eric, "Perspectives on the Origins of Merchant Capitalism in Europe" (2000). Sociology & Anthropology Faculty Publications. 45. https://digitalcommons.fairfield.edu/sociologyandanthropology-facultypubs/45 Published Citation Mielants, Eric. “Perspectives on the Origins of Merchant Capitalism in Europe” in Review of the Fernand Braudel Center, Vol. 23 (2), Fall 2000, p.229-292.

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EricMielants

thereare fourmajor theoreticalperspectives on the Essentially,originsof capitalismand the medievalera in westernEurope. This articlecritically examines the main argumentselaborated in theseperspectives and attemptsto rethinkthe long termhistory of socioeconomicand politicalprocesses. The fourmajor theoretical perspectivesdealt within this articleare, respectively,orthodox Marxism(which considers the nineteenth century as theera of capitalism),a formof neo-Marxismwhich I call "Brennerism"(in which class struggleand agrarianproduction tend to be the primordial focus),"modernization theory" (which often contrasts the medieval era withthe modernera), and lastly,world-systems analysis, which tends to date capitalismback to the "long" sixteenthcentury (So, 1990: 187-90).1Each of theseperspectives copes withits own specificproblems in dealingwith the emergenceof merchantcapitalism.

* I wishto thankAdriaan Verhulst, Erik Thoen, PieterSaey, Marc Boone, and Peter Stabel fromthe Universityof Ghent,Leon Voet fromthe Handelshogeschoolte Ant- werpen,as wellas ImmanuelWallerstein, Dale Tomich,and MarkSelden of Binghamton University,and Giovanni Arrighiof Johns Hopkins Universityfor theircritical and perceptivecomments on an earlierdraft of thisarticle, which I presentedin a much abbreviatedform at theinternational colloquium on "Labor and Labor Marketsbetween Town and Countryside(Middle Ages- 19thcentury)" at theUniversité Libre de Bruxelles, Dec. 11-12, 1998. Of course,no one but myselfis responsiblefor any errorsof factor interpretation. 1 Othersin theworld-systems school go back to c. 1400 AD (Arrighi,1994), the thirteenthcentury (Abu-Lughod, 1989), or even 3000 BC (Frank,1990; 1992; Frank8c Gills, 1991; 1992a; 1993a). review,xxiii, 2, 2000,229-92 229

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ORTHODOX MARXISM

When orthodoxMarxism is used as a theoreticalperspective to analyzethe emergenceof capitalism,one facesseveral problems: a deterministicstagist evolution is imposedupon historicalprocesses (aftera bourgeoisrevolution, the era of capitalismdawns, only to end in the Aufhebung),the use of a socioeconomicinfrastructure whichdetermines a suprastructure,the use ofEurocentric terminol- ogies (e.g., frozenhistories; Asiatic Mode of Production),the fram- ing of exploitationas a rigiddichotomous class strugglebetween proletariansand capitalistswithin a nation-stateas a unitof analysis (Takahashi,1976: 74),2and last but not least the relegationof the marketto a secondaryposition outside the sphereof production, while assigninganalytical priority to the means of production (Tomich,1993: 223). The orthodoxMarxist tradition of constructingan economic view of modernity,reproduced by academicssuch as Christopher Hill, dates capitalism(and modernsociety) in the late eighteenth centurywith the IndustrialRevolution at its forefront(Baradat, 1998: 137-61). It is only then thatMarxists see a real transition takingplace. As a consequence,most of themdisregard the "long" sixteenthcentury, let alone theMiddle Ages. Although Marx himself acknowledgedthat "we come across the firstsporadic traces of capitalistproduction as earlyas thefourteenth or fifteenthcenturies in certain towns of the Mediterranean"(1977: 876) he did not elaborateon this.3At most,Marxists trace the early roots of capitalism to the 1640's in England(Cantor, 1973: 294). However,in the 1970's a neo-Marxianvariant, the Brennerian approach, comes into thepicture.

2 "Freeman and slave, patrician and plebeian, lord and serf,guild-master and journeyman,in a word; oppressorand oppressed,stood in constantopposition to one another"(Marx and Engels in the CommunistManifesto cited in Edwardset al., 1972: 67) as ifthere were only two fundamental classes in history.Another assumption is thatsmall familyproduction on thecountryside was identicalto auto-subsistance(Bois, 1985: 190) so it could not lead to the developmentof capitalism.For thehistorical evidence that it could in Catalonia cf.Torras (1980: 258). 5 Marx himselfwas not preoccupiedwith feudalism or the Middle Ages and all his statementsabout themwere nothing more than"contextual observations dependent on his analysisof the capitalistproduction" during the industrial era (e.g., Guérreau,1980: 57; Bois, 1985: 189; Feddema 8cTichelman, 1978: 17; Dahl, 1998: 61).

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BRENNERIANAPPROACH

The Brennerianapproach (unlike traditional orthodox Marxism) is stronglypreoccupied with the Middle Ages. However,this ap- proachalso has specificproblems since it tendsto: • focuspredominantly on classstruggle and modes of productionand minimizethe circulation of trade(Brenner, 1977); • overemphasizeproduction, specifically agrarian, at the ex- pense of urbancentered production, • considerthe nobility as nothingmore than a "surplusextract- ingby extra-economic compulsion" oriented class in orderto indulgein so-called"non-productive consumption" (Brenner, 1985b: 232).4 Brennerremains encapsulated in a Marxisttradition that focuses predominantlyon the mode of productionand class warfarebe- tweenpeasants (the exploited) and thenobility (the exploiters) within a giventerritorial unit (the nation-statebeing the unit of analysis).5Essentially, he explainsthe economic success of the English nobility,in comparisonwith the Frenchnobility, as the difference betweena class in itself(France) and a class for itself(England) (Byres,1996: 67) whichhe labels "extraordinaryintra-class cohesive- ness"(Brenner, 1985b: 258).6 He also followsthe Marxist path which juxtaposes the "absolutismin France"versus "the developmentof

4 Does this statementimply that no investments(through spending) took place withincertain urban industries?"Desired goods included luxuriesas well as basic commodities. . . kingsand princes,noblemen, town patricians and clergymenwere also the consumerspar excellenceof goods . . . theirconsumption preferences played a basic part in shapingmany of the commercialpolicies of the middle ages" (Miller,1976: 353); cf. also Abraham-Thisse(1993a: 27-70). Does thisimply that no investmentsoccurred in the countrysideeither? (Lewis, 1984: X, 513). Furthermore,the nobilitycould also be very activein trade,becoming a directcompetitor to peasants and merchantsselling goods on the market(e.g., Pal Pâch, 1994: III). 5 Brenner's thesis is essentially"a base consistingof unfreepeasants, the direct producers,and an aristocraticsuperstructure supported by rentswhich were extracted fromthe former. This criticalprocess of extraction was possiblebecause thelords owned the land" (Harvey,1991: 16-17). Cf. also Us 8c Soly (1993: 196) who followthe same "Brennerian"framework. 6 On theproblematic issue to whatextent one can alreadyperceive class formations in the Middle Ages, cf. the opposition between Brenner(1985a; 1985b) and Fossier (1991: 415-36) on one hand and Murray(1978: 14-17) and Raftis(1996: 128) on the other.Constable (1996: 301-23) seems to take a carefulintermediary position.

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 232 EricMielants classicalcapitalist relations on theland in England"(Brenner, 1985b: 275; 284-99). Brennerthen constructs his narrativein sucha wayit becomes either:a) a prelude to orthodoxMarxist stagist historical evolution,7ending with the "riseof a capitalistaristocracy presiding overan agriculturalrevolution" (Brenner, 1985b: 299) whichin turn broughtabout aan upwardspiral that extended into the industrial revolution"(Brenner, 1985b: 327) or b) a particularvariant of modernizationtheory (cf. infra), explaining why one territorialunit (England), unlike another one (France), managed to achieve an economic"take-off."8 In both cases, capitalismbecomes a characteristicof one nation at a givenmoment in time.9Another problem is to whatextent peasants (in Brenner'sview the productive base of a society)were actu- allyof servilestatus.10 Also, in makingclass struggle and themode of productionso central,Brenner minimizes the market's importance (1977; 1985a; 1985b). Certainly,one can claim thatsome peasants onlysold productson the marketto covertheir monetary require- ments,which were partially generated by coercive demands of their lordsand/or state officials. In thisway, some agriculturalproducers were"driven to themarket" in orderto obtain,via thesale ofpart of theirproduction, the cash withwhich to meet theirobligations, generatedby "extra-economic compulsion" (Aymard, 1993: 292-93; Gutnova,1990: 111).11Yet, this does notmean one shouldminimize

7 In a typicalMarxist framework, Brenner juxtaposes the generalcrisis "on mostof the continent"versus the "criticalbreakthrough to self-sustaininggrowth in England" (Brenner,1985b: 275). 8 "It was the growthof agriculturalproductivity, rooted in the transformationof agrarianclass or propertyrelations, which allowed theEnglish economy to embarkupon a path of developmentalready closed to its Continentalneighbors" (Brenner, 1985b: 323). In this sense, Englishdevelopment distinguished itself from the continentthat suffersfrom sclerosis (Brenner, 1985b: 275, 299); therefore,Brenner perceives capitalism, developmentand a breakthroughin economic growthoccurring in England,and crisis,stagnation, absolute monarchyoccurring in France.It is also a veryunilinear way of thinkingabout historicalevolution (Holton, 1985: 89). 9 Cf. Torras who criticizes"the unilinearand strictlyendogenous causalityof his [Brenner's]approach" (1980: 262). IU Accordingto Kosminsky,even in late thirteenthcentury feudal England, 40% of the land occupied by peasantswas freeland, and approximatelythe same percentageof peasant households was free as well (Kosminskyin Harvey,1991: 18). Cf. also Heers (1992: 163-64). Or, as Rodney Hilton puts it: The importantthing about the developmentof moneyrent was thatas soon as the peasant was told to produce his rentin money,he had to produce goods on the marketin order to get the money"(1974: 218).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 233 the importanceof demographicchange or the powerfuldynamic impulsesgenerated by the existence (and increasingsignificance) of the marketitself: between the eleventh and late thirteenthcentury, England'semployment in market-dependent occupations grew more rapidlythan the number of self-sufficientfarmers. Within the rural economy,specialization occurred as well.12 Afterinvestigating data available in the Domesday book, the economic historianSnooks estimatesthat 40% of the economyin eleventh-centuryEngland was involvedin marketactivities (the marketbeing the sector where "all themajor economic decisions in Englandwere made") and 60% in subsistence.13These resultschal- lengethe conventional wisdom which insists upon onlya verylimited role formarket forces at thistime (Snooks, 1995: 39). Hence, asser- tionssuch as Brenner'sthat individual feudal lords frivolously consumed surpluseseither produced from estates managed according to time-honoredcustom or extractedfrom their tenants by various noneconomicmeans, have to be seriouslyquestioned (Snooks, 1995: 47). Of course,one cannotdeny that a smallminority (the nobility) in a giventerritorial unit imposed many substantial different financial extractionsupon themajority (peasants) without reinvestments occurringin the countryside(e.g., Maddicott,1975; Thoen, 1988a:

12 The intensification,specialization, and commercializationof thecountryside also occurs in Flanders(e.g., Thoen, 1993) as well as in the Netherlands(Blockmans, 1993: 49-50). At the same period, commercializationchanged the character of taxation.Geld, theprincipal tax of theeleventh century, had been leviedon land. By 1300 themain taxon thelaity was assessed on thevalue of personalmovable property, and thisensured that townspeople should be broughtwithin its scope. Not only that,but townspeople usuallypaid tax at a higherrate thancountry people. In addition,cus- tomsduties fell directly on importsand exports.Edward I had enhanced their value in 1275 when he initiatedthe levyingof a tax on wool exports.This levy on trade instantlybecame a principalsupport of royalfinances, more regular than any other source of income. It was the foundationupon whichthe king establishedhis creditwhen he wishedto borrowmoney from Italian merchants (Britnell,1995: 14). Accordingto Cazel, duringthe reign of EdwardI, theroyal revenue from dues offoreign merchants(paid in returnfor a license to tradewith England), became about equal to the entiredomanial revenue(1966: 104). On the presence of a whole varietyof "alien merchants"in late thirteenthand earlyfourteenth century England, cf. Lloyd (1982; 1991). 13 Snooks estimatesthat 32.3 % of the Englishmarket sector in 1086 was ruraland 7.8% was urban,hereby arriving at a totalof 40.1% (1995: 40).

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636-37). Nor does itmean that "surplus extracting by non-economic compulsion"(Brenner, 1985b: 232) did nottake place. But I thinkit is fundamentallyimportant to acknowledgethat strong cities, dom- inatingtheir rural hinterland, exploited the countryside just as well as feudallords did (Harvey,1991: 19; Nicholas,1971: 93; Epstein, 1992: 124-33; Hilton,1974: 212).14And, fundamentally, why would feudal structuresinhibit the emergenceof markets?According to Bruce Campbell,peasant producers generally intensifyproduction, specialize, and participatein themarket exchange when they have to, and feudalism-through the extractionof theirsurpluses in variousforms of feudalrent- obligedthem to do preciselythis (1995b: 133). Peasantsdid produceabundant goods in regionalmarket circuits (Derville,1996: 123-36) as well as in trulyinternational markets (Thoen, 1988a: 277-79). Not denyingor minimizingthe significance of agencyor peasant resistancein the face of coerced extractions (e.g., Hanawalt,1986: 23-47), to considerthe concept of "power relationsbetween lords and peasantsas theprimum movens of the MiddleAges wouldbe absurd"(Guérreau, 1980: 108).15Therefore, I agree withEpstein's critique of Brenner: Because economic developmentoccurs as a resultof exchange and competitionin markets,it is primarilymarket structuresthat determine the character and rateof economic developmentin a society.By contrast,since propertyrela-

14 It is quite surprisingthat in the entiredebate on the transitionfrom feudalism to capitalism,Brenner (among otherMarxists) has failedto includethe importance of trade arid cities in his "narrativeof sodoeconomic change" (Howell 8c Boone, 1996: 323; Epstein,Steven A., 1991: 258; Epstein,Stephan R., 1991: 4) as he reduced the latterto mere passive entities(Boone, 1996b: 162). 15Ellen Wood is neverthelessconvinced this is the case, since merchantsand manufacturerswere in her opinion not drivingthe process that propelled the early developmentof capitalism (1999: 94). As a "BrennerianMarxist** she essentiallyconsiders mostof theseventeenth century world as nothingmore but commercialnetworks where "thedominant principle of trade was buying cheap and sellingdear** and moreover,trade itself"still tended to be in luxurygoods** (1999: 72). Justas Brenner,she juxtaposes France vs. England. The latteris, according to her, the most unique site of historical developmentin the entireworld: "therewas one major exception . . . England,by the sixteenthcentury, was developingin whollynew directions"(1999: 74). Because of its conditions internalmarket and its unique agricultural" (1999: 80), "England's 'capitalism in one country' (1999: 130), thisexceptional island was, accordingto Wood, capable of becoming all on its own the firstcapitalist nation-state.

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tions are only one (albeit crucial) determinantof market structures,one may not deduce the course of economic developmentfrom a (reified)structure of propertyrelations alone One cannotinfer a peasantsmallholder's economic strategiesfrom his abilityto subsiston his ownland (and his dutyto pay rentto a feudalor otherlandlord); rather, his economicstrategies will depend on howhis access to markets is structured(Epstein, 1992: 22).

MODERNIZATION APPROACH

A modernizationapproach16 is also problematic,whether it is based on the emergenceof modern(spiritual or religious)values thatform the basis of the emergence of capitalist accumulation (e.g., Weber,1996; Tawney, 1926; Werner, 1988; Landes, 1998) or technological innovationsthat would lead Europe on an unavoidable teleologicalpath to dominanceover the restof the worldin subse- quent centuries(e.g., Labal, 1962: 32-39; Gimpel, 1976; Ashtor, 1992a: vol. IV; White,1962; Jones, 1981: 45-69; Landes, 1998; Lai, 1998). In constructinga developmental/modernizationmodel to explainthe steadyrise of putting-outsystems (in symbiosiswith the emergenceof capitalism),one mustbe verycareful in reifyingcon- cepts,since unhistorical pitfalls loom everywhere.17A typical miscon- ceptioninherent to modernizationtheory is thefact that, in contem- poraryliterature, many scholars dismiss medieval corporations and guildsas beingsynonyms for socioeconomic stagnation, decline, and archaism(Munro, 1994a: IX, 44; Boone, 1994: 3-5; Lis & Soly, 1997b: 228). Guildsand corporationsare thevictims of thisunhis- toricalinterpretation mainly because theirpresence is oftenframed in a period of transition,whereas capitalism, identified as the real progresswithin modernization theory, takes over the pre-Renais-

16 A modernizationapproach is sometimesassociated with a commercialization approach (Persson, 1988: 64), but its obsession with situatingmodernity in the post- medievalera and the prejudicesvis-a-vis everything linked with the Dark Ages (cf. infra) makes it more proper to call it a "modernizationapproach." 17 For instance,the expansion of a Verlag-systemin westernEurope (the main com- moditychain flowing from the Low Countriesthrough Germany towards northern Italy) was not universalin time and space, nor was its appearance uniform(Holbach, 1993: 207-50).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 236 EricMielants sance decadent medieval structureswhile installingmodernity (Boone, 1994: 4). The classicexample of this traditional point of view in themodernization/development school is, I wouldargue, the most famouspropagator of moderneconomics, Adam Smithhimself: One objectiveof the craftguilds was to excludecompetition. A craftguild was an associationin a giventown of themasters of a trade who combinedto controlprices, wages, and the standardsand conditionsof sales of theirproducts, and to monopolizetheir manufacture (1976: 69; 139). Thus, the guildsbecame constantlydepicted as medievalconserva- tive remnantsthat were obstructingthe route to progress(i.e., towardscapitalism) with regulations and prohibitions(according to modernizationtheory, detrimental to the increasingwealth of nationswithin a freemarket).18 Furthermore, the guildswere also, fromthe late fifteenthcentury onwards, losing forces against ongo- ing centralizationprocesses. Besides, the nineteenth-/twentieth- centuryliberal industrial nation-state was alwayssignificantly more interestedand motivatedin illustratingits own vibrantdynamism thangiving justice to itsown predecessors,the medievalcraftsmen and guilds(Braunstein, 1994: 23). Surely,capitalism itself could not have originatedin themidst of thisarchaic premodern world? For modernizationtheory it seems nothingimportant or novel happenedin the "long"sixteenth century: as in Marxism,the Indus- trialRevolution of thelate eighteenth-and earlynineteenth-century has to be looked upon as thereal watershedin history,opening the gates of modernity(Cantor, 1973: 298-301). As a result,the eco- nomichistorian's principle interest in preindustrialeconomies lay in understandingthe constraintsthat prevented their becoming modern. Obviously,this quite stagnationistinterpretation of medieval economichistory undoubtedly had an impacton the course of his- toricaldebates and theassumptions many scholars shared about the stateof the premodernworld in general.Only premodern factors such as the availabilityof land and populationgrowth became the keyto understandinga premodernworld,19 making commercializa-

18 Cf. Us 8c Soly (1994: 366-69) but also Persson's (1988: 50-54) well-foundedcri- tique on Mickwitz's(1936) view of guildsand competition. 19 E.g., Postan (1966; 1973) and Postan 8c Hatcher(1985); on the supposedlynon-

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 237 tion,specialization, and technicalchange peripheraltopics for the historyof a premodernsociety (Britnell 8c Campbell, 1995: 8). Unfortunately,many still associate the MiddleAges withan age of ignorance,backwardness, and generalunderdevelopment (Pernoud, 1992: 16; Geremek,1994: 15) and,in doingso, upholda "traditional pictureof medievalsociety as feudal,hierarchical, deeply conserva- tiveand religiousand the economyas a self-sufficientsubsistence economy"(Fryde, 1998: 207).20 Regardingtechnological progress, dynamism, and inventiveness, premodernmedieval labor formationscannot, as modernization theorydoes, simplybe dismissedas beingpremodern as ifa major gap woulddivide them from our modernworld. How can one imag- ine thatguilds, located at theheart of a medievalurban society, and itspolitical institutions, would have been nothingmore but incarna- tionsof conservative,stagnant, and unproductiveeconomic action withoutproper dynamism and innovation(Boone, 1994: 16)? Fur- thermore,preindustrial (i.e., pre-nineteenthcentury) markets were muchmore complexand variedthan is usuallyenvisaged (Epstein, 1993: 470). Yet, one should not only rethinkthe concept of the IndustrialRevolution, praised (and conceptualized)by modernization-developmenttheory (Wallerstein, 1984: 179-80), but the very termagricultural revolution as well (Verhulst,1989a: 71-95; Ver- hulst, 1990a: 17-28).21Unfortunately, modernization theory dis- missesnot onlythe guild'sinfrastructure, but sometimeseven the entirepremodern medieval era, "consigningit to a pre-industrial limbo of gloom and inertia"(Dyer, 1991: 7), as ifit were rigidand sufferingfrom permanent sclerosis, a timeperiod only waiting to be sweptaway by the triumphof laissez-faireeconomics.22

existence of technologicalprogress in this perspectivewhich frames"pre-industrial agrarianeconomies in a sortof Ricardo-Malthustrap," cf. Persson (1988: 3-4, 24-32). ™ For a dismissal of pessimisticassessments regarding late medieval agricultural productivityand proficiencycommon to both MaJthusianistsand neo-Marxistscf. Verhulst(1997: 91-92). For an excellentrevision of theideal typical"lymphatic peasants" à la Postan and the "lackadaisicallords whichsapped the agriculturalsector of dynamism" à la Brenner,cf. Campbell (1995a: 76-108). 21 Some even situatethe agriculturalrevolution in the thirteenth-fourteenthcenturies(e.g., Dowd, 1961: 143-60 forItaly). ** For manyscholars, medievalfeatures are treatedeither as obsolete remnants fromthe past or as radicallytransformed vehicles of earlymodernity with almost unrec- ognizable origins"(Howell 8c Boone, 1996: 305).

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However,everything remaining different, Marxism has thesame obsession withmodernity in emphasizingthe AgriculturalRevolu- tionand the IndustrialRevolution in itsstagist perspective as modernizationtheory. Hence, its dismissive attitude vis-a-vis the premodern "long" sixteenthcentury or medievalera is quite similar.Yet manyMarxist and modernizationtheorists tend to forgetthat athe industrialrevolution was not the source of modern economic growth"(North & Thomas, 1973: 157) but ratherthe outcome of differentprocesses which have to be tracedback in theperiod prior to the IndustrialRevolution.23

WORLD-SYSTEMS ANALYSIS

World-systemsanalysis ( WSA) attemptsto explainthe emergence of a capitalistworld-economy in Europe parallelwith the incorpora- tionof regionsthrough domination and colonizationwhich in turn resultsin an internationaldivision of labor and an interstatesystem. At the same time,it debunksthe notionsof modernityand Indus- trialRevolution. As a consequence,unlike modernization theory and orthodoxMarxism, WSA cannotdisregard medieval Europe in its entiretysince it has to "reopen the questionof how and when the capitalistworld-economy was created in the firstplace; whythe

28 Findlaystates rightfully: "the view that only England, with its Industrial Revolution on domesticsoil and withhome-grown technology was trulyable to initiatethe modern industrialworld is fundamentallymistaken since it adopts a 'national*instead of a 'systemic'perspective. One mustnot look at the consequences forindividual nations or states,but forEurope or the West as a whole" (1992: 160-61). Althoughmost scholars continue to focus on the IndustrialRevolution as the key historicalmoment (e.g., Grassby,1999: 63) whichbrings about real growthin termsof a risein per capita income, there is ample historicalevidence thatthis was occurringmuch earlier than the eighteenthcentury (e.g., Wee, 1988: 343-44; Jones,1988: 38). Some scholars(e.g., O'Brien, 1990; 1992) even tendto dismissthe profits derived from international trade prior to the IndustrialRevolution. It is, in myopinion, of major importancethat the westernEuro- pean core was able to industrializeprecisely because itcould specializein theproduction of goods with a higher value added, whereas the peripherycould not because its industrializationprocess was thwarted,and colonial productionwas geared towards supplyingraw materialsfor the core, as its marketswere forced open to the refined products from the core. While the importanceof an internalmarket should not be underestimatedin order to create sustained growth,the externalmarket and inter- regionaltrade, the former as a source of rawmaterials and thelatter for the demand for servicesor finishedproducts with a highervalue added, are crucialfor any economic growth(Wee, 1988: 321, 337).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 239 transitiontook place in feudal Europe and not elsewhere;why it tookplace whenit did and not earlieror later;why earlier attempts of transitionfailed" (Wallerstein, 1979: 135). While WSA has not dealt effectivelywith the transitionproblem, it has broughtthe medievalera back intothe picture. Another positive element about WSA is that it illustrateshow the BrennerDebate betweenclass historyversus the so-called"objective economic forces, particularly those derivingfrom demographic fluctuations and the growthof tradeand markets"(Torras, 1980: 253) can be overcomeby empha- sizingthat the exploitationof labor is not onlydetermined by the wage bundle and the extractionof labor fromlabor power in the productionprocess, but in substantialmeasure by the prices at whichgoods are exchangedbetween the economies that make up the world-system,or betweenthe modes of productionin a giveneconomy (Bowles, 1988: 434). In thissense, WSA attemptsto integratethe Marxistfocus on productionand the Smithianfocus on the circulationof goods on the marketin its relationalmodel to explain the emergenceof capitalism.24Yet, as ThomasHall observes,many scientists agree that "World-SystemTheory cannot be appliedwholesale to precapitalist settings,before approximately 1500 AD"(Hall, 1996: 444-49). This leads us to the question:is thereno capitalistsystem before the "long" sixteenthcentury? The answer to this question depends whetherone tendsto agreewith a spatialpredisposition, namely that therehas been a period of transitionfrom feudalism to capitalism whereinthe existenceof multiplesystems converge into a single

24 Brenner'sclaim thatWSA is circulationistshould be rejected. While it must be admittedthat much of what goes on among Wallerstein's zones of the capitalistworld-economy involves exchange, much also involves production.When, for example, core capitalistsperipheralize a regionin order to extractsurplus value fromit, theyare doing so throughthe directestab- lishmentof productiveactivities that they ultimately control. How can such an economic relationshipbetween core and peripherybe regardedas based only on exchange?(Sanderson, 1995: 178). It is importantto note thatit is the combinationof profitsbased on the exploitationof wage labor and unequal exchangethat constitute a capitalistsystem. Profits derived from surplusvalue are afterall not necessarily"of greater historical significance" (Heilbroner, 1985: 66) than those derivedfrom unequal exchange.

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 240 EricMielants world-system(a world-economy centered around Europe or western Asia) and a temporalpredisposition, namely that this transition from feudalismto capitalismoccurred somewherebetween 1450 and 1650. Let us focusfirst on the temporalpredisposition. For Waller- stein,capitalism evolved in Europe out of thecrisis of feudalismin the "long"sixteenth century and withthe world-system, one single new mode of productioncomes into existence.His work on the "long"sixteenth century- the "period of theworld-economy in creation"-(1974: 356) notwithstanding,his summaryexplanation about thetransition (1974: 37) remainsunsatisfying. I agree with the meth- odologicalcriticism of Terlouw: Duringthis long traditionalphase, feudalism was slowlytrans- formedinto, and supersededby, capitalism. This can onlymean thatduring at least two centuriesfeudalism and capitalism coexistedin one world-system.So whatWallerstein explicitly denies (the coexistenceof two modes of productionin one world-system)he implicitlyassumes for the period between 1450 and 1650. If one acceptsthat during a verylong period, severalmodes of production coexisted in one singlesystem, it is a small,and completelylogical, step to admitthat at anymo- mentin thehistory of theworld-system several modes of productioncould exist simultaneously (1992: 57-58). like Marxhimself, Wallerstein is moreinterested in thefunction- ingof thecapitalist world-economy today. But thisinterest has some unfortunatetheoretical implications: By focusinghis attentionon the emergenceof the present world-system,Wallerstein inadequately theorizes about the temporalborders between world-systems. His fixationon the unityof thepresent world makes him blind to theintertwin- ingof different social systems in thepast (Terlouw, 1992: 57). Wallersteinwas of course veryaware of this problem.25But callingthe transitionat a givenmoment in timecompleted (in the sense thatcapitalism has supersededother modes of productionor

25 "To analyzethe period from1450 to 1750 as one long 4transition'from feudalism to capitalismrisks reifying the concept of transition,for we thus steadilyreduce the periods of 'pure1capitalism and sooner or laterarrive at zero,being left with nothing but transition"(Wallerstein, 1980: 31).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 24 1 thatits logic appears to be predominant)is hard to do, since "it is alwayseasy to findpresumed instances of 'non-capitalist'behavior in a capitalistworld- all overEurope in 1650 and 1750 and 1950. The mixture[of noncapitalistand capitalistbehavior] is the essence of the capitalistsystem as a mode of production"(Wallerstein, 1980: 32). So who can reallytell for sure when one systemprofoundly takesover (incorporates)the otherone(s) at a specificmoment in time?Unfortunately, the confusion does notend here.Wallerstein's reluctanceto applyconcepts such as core and peripherybefore the "long"sixteenth century, is a resultof how he interpretsthe importance and impactof long-distancetrade. However, the dichotomy whichhe creates (and manyin WSA follow)between preciosities (luxuries) versus essentialsor utilities(mass or bulk trade) can seriouslybe questioned,especially prior to 1500 (Schneider,1991: 48). Whatgoods can one exactlydefine as luxuryor bulktrade: does one focuson thequantity of thegoods exchangedor emphasizethe natureof goods?And ifcertain luxury items over time become mass commodities,being widely bought and sold due to a risingdemand in themarket (for instance, such as wine,26sugar,27 and salt28),when

26 "In someyears around 1300,England exported up to 15 millionpounds of raw wool, and a year's exportof about 25 millionsgallons of wine fromthe Garonne valleywas recorded.The wine tradefound markets in Tunis and theBlack Sea. Exoticcommodities weremore and moremoved in bulk"(Mundy, 1991: 91). Cf.also Craeybeckx(1958), Sivéry (1969), and the impressiveessays of Rénouard (1968: 225-359) and Maguin(1982) who demonstratethe significanceof both regionalproduction and long-distancetrade. To illustratethe example of massive production of wine for the market in themedieval era: "La moyenneannuelle, pendant le premiertiers du XlVe siècle,se chiffreà 747,000 hectolitres- 850,000environ en 1308-1309. Pour fixerles idées,en 1950,l'exportation totale de vinpar la France est de 900,000 hectolitres.Et cela ne concerne que les seules sortiespar la Gironde: Bordeaux et Libourne"(Pernoud, Gimpel &"Delatouche, 1986: 195); cf. also Bochaca (1997: 20). Thus,one shouldnot underestimate the impact of the wine production on the"monétarisation de l'économierurale et l'accumulationde profits"(Mousnier 1997: 327). But not onlyFrench wine was exportedto England:German wine (Boer, 1996: 138), Spanishwine (Childs, 1978: 126-36; Ruiz 1992: DC,182) and Cretanwine (Scammell, 1981: 105) was sold thereas well.For theimportance of the"regular, large-scale, well-developed tradebetween distinct but relativelyintegrated economies" of whichthe wine tradewas illustrative,cf. also Menard(1997: 236-48) and hisbibliography. Pauly demonstrates dearly thatwine in theearly fourteenth century cannot be dismissedas a luxurycommodity: the consumptionof wine was so widespread-even prisoners got wine- that one shouldconsider it "un alimentde base de premièreimportance" (1998: 297-98). Despite thefact that the wine trade probablydominated the commercefrom southern French cities to England duringthe late thirteenthand earlyfourteenth century, many other items were of course sold as well,such as pastel(from Bayonne and Toulouse), whileEnglish products such as fishand skins,and, laterin thefourteenth century increasingly cloths, were brought back to be sold at theFrench marketplace (Wolff, 1954: 118-19).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 242 EricMielants does this criticaltransition from a luxurygood to a bulk good occur?29In other words, when do luxuries become necessities (Wallerstein,1993b: 294)? Furthermore,to whatextent is it analyti- callyuseful prior to 1500 thatsuch a dichotomyis drawnbetween thetwo? Schneider (1991: 52) and Adams(1974) are convincedthat long distance trade in luxuriesprior to 1500 was a "formidable socioeconomic force ... in spite of its being confinedlargely to commoditiesof veryhigh value . . . and in spiteof itsdirectly involv- ingonly a smallpart of the population" (Adams, 1974: 247). And can the growingwealth of Europe not be measured by its increased demandfor luxuries? (Cheyney, 1962: 10). Is it impossibleto retain the importanceand impact of luxurytrade withoutreducing it conceptuallyto the same analyticallevel as bulk trade?Is it not conceivablethat luxury trade (and certainlythe seriousprofits in- volved)could haveprovided essential financial leverage for the same merchantentrepreneurs/families who also engaged(and invested) in bulk trade,specifically prior to 1500? And could one not argue that thisleverage was quite necessary,if not essential,to further stimulatethe increasing trade in mass commodities,stimulating the actual expansionof capitalismin thisera of transitionfrom feudalism to capitalism?30A medievalsuper company such as managedby the Peruzzisor the Bardisaround 1300 in Italyinvested and made notable profitsin both textiletrade (the cloth market)and large-

27 For the sugar industryin late medievalSicily, cf. (Epstein, 1992: 210-22); forthe structureof the Levantine sugar industryin the late Middle Ages, "a true capitalistic enterprise,with big trustswhich systematically pushed the smallenterprises aside," cf. Ashtor(1992b: ch. Ill, esp. 237). 28 The salt trade asserted itselfas "one of the unifyingelements of the western economy"(Mollat, 1993: 65) as it became the targetof special taxesall over Europe. Cf. also the illuminatingessays in Bautier(1992: chaps. V and VI); Mollat(1968; 1977: VI 8c VIII) and, more important,the major studiesby Hocquet (1979a; 1979b; 1985). For the significanceof the salt trade in northwesternEurope, cf. Bridbury(1973: 22-39). 29 Of course one mightpose the same question about othercommodities that were traded in bulk in the fourteenthcentury, such as beer produced in northernGermany (Hamburg,Bremen) and exportedtowards the Low Countries(cf. Unger, 1989: 121-35; Aerts8c Unge-, 1990: 92-101; Uytven,1988: 548) as beer graduallyreplaced wine as a major consumptionitem (Unger, 1998) or the major trade in lumber(e.g., North & Thomas, 1973: 50). 90 Especiallyif one realizes thatat the time commercialexpansion and industrial specializationboth required unprecedented investment of capital (Schumann, 1986: 107). For the importanceof both bulk trade and luxurytrade in the medievaleconomy, cf. Bozorgnia's powerfularguments (1998: esp. chs. 4 and 5).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 243 scale grain trading(Hunt, 1994: 244; Britnell,1993: 123; Wolff, 1959).31Besides, both bulk and luxurytraders took advantageof

31 "Since the latterpart of the Middle Ages, the range of articlesin long-distance commercialcirculation was already a verydiverse one, and encompassed consumer goods whichwere relatively commonplace, [while] it did not absorbvery high transaction costs" (Torras, 1993: 202). Cf. also Sapori (1970) and Cherubini(1993) who rejectthe Sombartianperspective that Wallerstein seems to follow:"While recognizing the fact that we are not dealing here [the marketin Medieval Italy]with quantities comparable with the figuresbrandished for the days leading up to the IndustrialRevolution, the circulation [of commodities]did not onlyinvolve products of specificallyhigh value, but also the mostrun-of-the-mill goods ... we mustreject the image of Italiancommerce during thisera as being centeredaround productssuch as spices and otherhighly-priced items" (Cherubini,1993: 282-83). Nor should one forgetthat the "medievalusage of the term spice could be highlyelastic" (Modelski 8cThompson, 1996: 178) whichmeans it could encompass manydifferent materials (Scammell, 1981: 101-02). Furthermore,"the mass trafficof heavyproducts, such as salt and grain,and of cumbersomeproducts, such as wood, also correspondedto a certaindivision of tasksbetween the sea and land routes" (Mollat,1993: 65). For some estimateson themagnitude of profits from Italian maritime tradewith England in 1270-1530, cf.Fryde (1983: xiv-xvi).Essentially, one can saythat "de plus en plus, il fautse convaincreque l'essentieldes traficsméditerranéens était fait du sel, du blé, du vin,de l'huile,sans parlerdes cuirs,du bois, du fer,de l'alun, néces- saires à la vie de tous les jours, et que c'est sur ces produitspondéreux, sur celui des grainsen particulier,que l'attentiondoit se porter,bien plus encore que sur les épices ouïes soieries"(Bautier, 1992: VI, 224). Accordingto Unger(1980: 191),Miskimin(1975: 125), Scammel(1981:48), and Lewis8c Runyan (1985: 134-35) bulktrade even dominated commercein northernEurope. Thus, it is a seriousexaggeration to claimthat industrial productionin the Middle Ages was "scattered,small-scale, and mostlygeared to a luxury market"(Wallerstein 1974: 123) and that"there was no middle-distancedivision of labor . . . local zones did not generallydepend on or count on 'regional' (that is, middle- distance)supply sources" (Wallerstein, 1993a: 5) as ifmedieval trade was nothingmore than "local trade and exchangein whichgoods moved withinrestricted regions [while] long-distancetrade was characterizedexclusively by valuables produced for the elites" (Wolf, 1982: 32). Althoughlocal productionand consumptionof grains and textiles remainedimportant (Munro, 1998: 275), regionalmarkets as well as internationalones wereat theheart of themedieval economy: both thecity-states' dependence on thegrain trade(for the consumption of theurban proletariat) and thetextile market illustrate this. For instance,ca. 1400 French grain was transportedvia Ghent to Antwerp,where ultimatelyDutch merchantshad to pay toll to be able to transportit to Haarlem (Aerts, Dupon 8cWee, 1985: 237; Brand, 1996: 36). At the same time,the import of grainfrom the Baltic to the Low Countries(according to Slichervan Bath [1963: 156] as earlyas 1250 and to England according to Fourquin [1979: 317] as early as the fourteenth century),or fromthe Black Sea region to cities such as Genoa (Karpov, 1993; Unger, 1980: 183) or Montpellier(Reyerson, 1998: 269) constitutedan essentialfeature of the urbansystem (Uytven, 1985). Estimatingthat the "average inhabitant of a northernEuro- pean townin theMiddle Ages consumed300 kg of grainannually" (Samsonowicz, 1998: 306), one can imaginethe logisticalproblems for a citywith a population of 50,000 or more.Thus, as increasingamounts of rawmaterials (furs, timber, cattle) and lastbut not least grain were transportedfrom the East to the cities of the Low Countries (Tits- Dieuaide, 1975: 150-66; Lewis, 1978: DC,33-35), and occasionallyto Italyas well(Favier, 1996: 172-73), in returnthe "bulk of thecities' growing exports were directed to Eastern Europe" (Uytven,1983: 181). One can thinkof the divisionof labor betweenthe urban

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 244 EricMielants theirnetworks of circulation systems which ensured the rapid spread of messages all across Europe from the fourteenthcentury on (Blockmans,1997: 41). Chase-Dunn and Hall (1997) and Modelski and Thompson (1996), forinstance, agree on theexistence and importanceof long- distance trade patternsand cycles prior to 1500. A dichotomy betweenluxury trade and bulktrade is not as importantto themas itis to Wallerstein.Completely dismissing a distinctionbetween bulk and luxurygoods fromthe presentto 5000 yearsago would imply thatno transitionfrom feudalism to capitalismoccurred: indeed, AndreGunder Frank and BarryK. Gills(1991; 1992; 1993a; 1993b) completelydismiss the notionof transitionin the Middle Ages, or even in the "long"sixteenth century for that matter. For them,no sharpbreak or transitionoccurs around 1500 (Frank& Gills,1993b: 297). In seekingto maketheir analysis "as holisticas possible"Frank

intercitystate system of westernEurope and the countrysideof easternEurope and the Black Sea area (Balard, 1983: 45, 51) as an embryonicform of peripheralizationwhich would culminate in the transformationof "East CentralEurope into a virtualcolonial appendage of theEuropean heartland,supplying raw materials in exchangefor finished goods" (Rowan, 1994: 197-98); cf.also Turnock( 1988: 209); Asdracha8c Mantran (1986: 348); Scammell (1981: 87); Tits-Dieuaide(1975: 160). For example, the Polish textile industrycould not flourishin the long run because of the continuousinflow of textiles fromthe westernEuropean city-statesagainst which theycould not compete (Wyro- zumski,1981: 301; Kloczowski,1996: 471-73; Matowist,1957: 578). This had of course politicalramifications: the Polish urban bourgeoisiecould not growas strongas in the West,which enabled the much more powerfulnobility to implementa socioeconomic policywhich turned the countryinto a peripheryvis-a-vis the West (Samsonowicz,1981; Bogucka, 1985: 101; Samsonowicz& Maczak, 1985) as, fromthe end of the fourteenth centuryon, the Baltic area became more and more importantas the source of food supplyand otherraw materials for major urban centersin the Low Countries(Verhulst, 1963: 74-75). The continuousexpansion of thisEuropean divisionof labor throughout the fourteenth-seventeenthcenturies is in my opinion an adequate explanation to understandthe relationbetween the "unidirectionaldevelopment towards increased agriculturalproduction" (Tarvel, 1990: 71) in eastern Europe on one hand and the increasingnumbers of nonagriculturalworkers in westernEuropean citieson the other hand (cf.also Wunder,1983: 270-71; Pal Pâch, 1994: ix-xi;Wee, 1988: 338). One should not homogenizeeastern and westernEurope, but thelate MiddleAges neverthelesshave to be regarded as the "crucialturning point [which]lead to divergentagrarian developmentin east and west"(Rôsener, 1994: 106). The internaldivision of labor in Europe (Samsonowicz,1996: 50-52) was partof thesystematic construction of a colonial periphery(cf. footnote 57) whichis in turncrucial to explainthe emergence of capitalism.TTiis makes the claim of internaltransformations within a singlenation-state (a capitalismin one countryphenomenon) quite presumptuous("the English economy in the early modernperiod, driven by the logic of its basic productivesector, agriculture, was already operatingto principlesand 'lawsof motion*different from those prevailing in anyother societysince the dawn of history"[Wood, 1999: 96]).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 245 and Gillsenvisage the contours of a worldsystem that existed 5000 yearsago (1993b: 45). Ironically,a narrativeof frozen history is con- structed:since time immemorial, trade linked peoples and tribesto- gether,while some made profitsand otherswere exploited. They are convincedthat "the labor of the ancientlapis lazuli minersof Af- ghanistanand the textileworkers in urban Sumeriawas all surely interlinkedin a worldeconomic system division of labor evenin the fourthor thirdmillennium BC" (1993b: 299). And so, mankindhas alwayslived (and alwayswill live?) in a world capitalistsystem.32 Theirposition is somewhatextreme and remainsa minoritypoint of viewin theWSA school. In contrastto Frankand Gills,Wallerstein does use the concept of transition,but in constructingWSA to analyzehistorical processes, he has problemspinning it down. How- ever,the transitionto capitalismhe invokesc. 1500,becomes even more problematicif one looks at other(non WSA) literature. Manyhave accepted the late Middle Ages as a period of transi- tionbetween 1300 and 1520 (e.g., Ferguson,1962), or a period of accelerationbetween 1270 and 1520 (Fossier,1991: 337-441). Some have coined theperiod between 1100-1350/1500 the "Commercial Revolution"(Lopez, 1954: 615; Adelson,1962: 68-87; Jones,1997: 152-332; Lopez, 1976: 56-84) thatin turninitiated the era of cap- italism33(and in the long run,made the rise of the West possible), disregardingwhether various formsof technologicalinnovations (e.g.,White, 1962; Mokyr, 1990; Balard, 1991: 113-23; Carus-Wilson, 1941) or a formof agrariandevelopment and surplusextraction, in itselfan outcomeof specificclass relations(Brenner, 1985: 11-12), wereat theheart of thematter.34 Snooks tracesthe decline of feud- alismbetween the eleventh and thethirteenth centuries (1996: 191, 304). The Frenchagricultural historian Alain Derville agrees, stating thatthe transitionfrom feudalism to capitalismin the countryside tookplace around 1150 AD(1995: 243-50). Severalstudies focusing

32 Hence Wallerstein'swell-founded critique: "Only if we keep the caesura [from protocapitalismto theemergence of a capitalistworld-system] in mindwill we remember that this historicalsystem, like all historicalsystems, not only had a beginning(or genesis),but thatit willhave an end" (1993b: 295-96). 33 Aymardtraces the period of transitionfrom feudalism to capitalismin Italyback to the thirteenthcentury (1982: 133). M Some have attributedevents outside Europe (i.e., technological stagnation resultingfrom the fiscalpolicy of despotic governments)as crucial to the rise of the West,but we cannot elaborate upon thishere (e.g., Ashtor,1992b: III, 266, 273-80).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 246 EricMielants on urban productionand trade35and agrarian productionfor trade,36bulk/mass and luxuriesalike, clearlyindicate a historical continuityon all levelsbetween the late Middle Ages and the sixteenthcentury, which explains the political, economic, and techno- logicalevolutions interwoven with the transitionfrom feudalism to capitalism.37 Even a change in mentalités*8the rationaldrive to achieve an activitywhich one calls a ceaseless accumulationof capital,can be tracedback to itsroots in theMiddle Ages (Le Mené, 1977: 160-90). Jacques Le Goffconsiders the theologicalcontroversy on usuryin the thirteenthcentury as "thelabor pains of capitalism"(1988: 9- 10). And he continues:"The instigatorsof capitalismwere usurers: merchantsof thefuture, sellers of time.The hope of escapingHell, thanksto Purgatory,permitted the usurerto propel the economy and societyof the thirteenthcentury ahead towardscapitalism" (1988: 93).39Also, the mechanicalclocks thatwere appearingon

35 Cf. excellentessays on urban economies and putting-outproduction in the fourteenthcentury in Boone 8c Prevenier(1993); fora shortdescription of the putting-out systemimplemented by medieval (merchant)capitalists, cf. Reynolds(1961: 236-43); Stromer(1991); Holbach (1985; 1994); and Friedrichs(1975). For case studiesconcern- ing constantlychanging markets of textileindustries in Ghentand Douai, cf. Howell 8c Boone (1996); forurban industriesin the Low Countriesand Italy,cf. Wee (1988); for a generaleconomic historyof the Low Countries,cf. Houtte (1977). 36 For example, the studiescollected in Wee 8c Cauwenberghe(1978) and Thoen (1992; 1993). 37 In emphasizinghistorical continuity throughout this article I do not intend to simplifythe complex historyof certainconjunctures related to certainproducts being bought and sold at the marketplace, in which,of course, discontinuitiesoccur (as for instanceMunro [1997] pointsout forthe new draperies).What I want to stresshere is theoverall continuity of economicgrowth in thethirteenth to sixteenthcenturies and the natureof capitalistexploitation inherent to it. 38 "Du Marx dans la pratique, six cents ans avant Le Capital! ... La réussiteou l'échec d'une vie se mesurentà l'importancedu capital accumulé"(Martin, 1996: 357- 70). Cipolla notes thatby the fifteenthcentury "western glass too was widelyexported to the Near East and a tellingsymptom of the European Capitalist'spirit, unhampered byreligious considerations, was thefact that the Venetians manufactured mosque lamps forthe Near Easternmarket and decorated themwith both westernfloral designs and pious Koranicinscriptions" (1994: 210). As faras medievalBruges is concerned,Murray statesthat "the term medieval capitalism should not be rejectedout of hand, fordespite its tintof anachronism,capitalism does indeed describe the workingsof the Bruges economyin the fourteenthcentury" (1990: 25). 39 "C'est avec le développementde l'économie monétaire,dès le Xlle siècle, que l'usure va devenirun sujet de la plus grande importancepour l'Eglise. C'est au XlIIe siècle que le problème s'est avéré fondamental,alors que le capitalismeest en trainde faireses premierspas, en usantprécisément de pratiquescondamnées par l'Eglisejusque-

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 247 churchesand townhalls in westernEurope fromthe beginningof thefourteenth century onwards (Barnett, 1998: 80), were"a historical revolutionin the measuringof time,with far-reaching intellec- tual,commercial and industrialconsequences" (Gimpel, 1976: 165; Pernoud,1992: 140). Indeed,"the rational outlook of the merchants and bankers was fundamentalto the installationof mechanical clocks in the West. With theircapitalistic mentality they had ob- servedthe value of time"(Gimpel, 1976: 170).40Besides, what is the

là" (Greilsammer,1994: 810). But,quite important,"the urban authoritiesin the twelfth and thirteenthcenturies defended the of thatdenounced canonical practice usury.Synods " infractionssuch as usuryhardly installed any fear in the 'monde des affaires' (Wyffels, 1991: 870-71) since "money-lendingwas freelypracticed in the Middle Ages among the poor as wellas therich. Usury was stillforbidden by canon law,but therewere all kindsof subtledevices for cloaking usurious transactions" (Du Boulay,1970: 59; cf.also Little,1978: 180-83), and one of themwas certainlycarrying on bankingactivities "under the cloak of exchange"(Roover, 1969: 29). Essentially,"the church's condemnation of usury did nothing to shacklethe developmentof capitalism"(Le Goff,1979: 25) since medievallawyers and theirclients became spectacularlyadept at circumventing the laws by disguisinginterest payments. The churchitself was a borrower(and occasionallya lender)and it,too, made use of theingenious methods of casuistry thathad been developed forpaying interest without appearing to pay interest. In short,credit financinghad become too pervasiveand integrala part of economic life-and an economicallyproductive fact of life-that no amount of theologicalargument was going to make go away. Althoughtheologians and scholarscontinued to argue the moral finepoints of the usuryproblem, by the mid fourteenthcentury there was a marked decrease in the Church's actual prosecutionsof usury,and it even began to change its laws to allow moderate interestrates (Barnett, 1998: 60). According to Little,"what was once deviantbehavior, which by definitionis marginal, was [by the mid thirteenthcentury] becoming standardpractice and thus simultaneously,from an officialpoint of view,increasingly difficult to defineas deviant,par- ticularlyas moreand moreof those in positionsof authority had mercantilebackground. This is self-evidentin the case of the urban patriciate,but it was also true of the ecclesiasticalhierarchy" (1978: 212). Cf. also Heers (1992: 253-56) and Mundy(1997: 196-202). 40 Or, to quote Barnett,"God's timebegan to grantspace to thenew secularized idea of timerequired by a moneyeconomy" (1998: 61). For the far-reachingimplications of changes in the apprehensionof time in the period between 1300 and 1650, cf. E. P. Thompson's classic chapter,"Time, Work-Disciplineand IndustrialCapitalism" (1993: 352-403) and the cited literaturethere. Time itselfbecame also a compartimentalized and rationalizedcommodity (Le Goff,1991: 46-79; Martin,1996: 168-74). Cf. also Epstein (1988a); Crosby (1997: 75-93); and Cipolla (1967). On the chronologyand geographyof diffusionof clocksin medievalEurope and theirimplications ("Merchant's Time" and "WorkTime and HourlyWage") cf.the studyby Dohrn-vanRossum (1996). Landes explicitlylinks the large scale productionof the textileindustry to the diffusion of workbells in the medievalurban communities(1983: 72-76). Accordingto Whitrow it is importantto note that,unlike China and Mesoamerica,"in WesternEurope the

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 248 EncMielants essentialdifference regarding V esprit d'entreprise of a merchantlike JacquesCoeur in themiddle of thefifteenth century (Mollat, 1988), and thatof merchants like Jean Boinebroke (Espinas, 1933; Bernard, 1976: 311; Koenigsberger,1987: 223-24) and theGenoese capitalist Symon de Gualterio (Face, 1969: 75-94) in the late thirteenth century,or even thatof a merchantlike Guillaume Cade in themid- twelfth (Derville,1994: 52-54), all linkedto the century41 emergence ofcapitalism? Thisprovokes the question: what is so newabout the sixteenthcentury as faras featuresof capitalismare concerned? The capitalisticnature of major commerceand international financebecomes clearlyapparent in the fourteenthand fifteenthcenturies. The volumeof medieval trade and theamount of businessconducted was negligibleby comparison with present-daytrade, but this means verylittle. It was substantial consideringthe size of thepopulation, and therelative importanceof other sectors of the economy. In tonnage,some figures actuallysurpassed those of Seville'strade with America in the firsthalf of thesixteenth century (Bernard, 1976: 309-10). It also should be clear thatthe concept "age of transition"im- plies thatat least twocoexisting modes of productionwere operat- ing, and as time goes by, one becomes more dominantover the other:if we wantto analyzethe rise of one mode ofproduction and the demise of another,we have to acknowledgethem working to- gether.If not, should one not have to argue thatfeudalism simply disappeared withinEurope duringthe "long" sixteenthcentury? Instead,why not argue thatthe feudalsystem was verymuch alive well into the nineteenthcentury, as well as some of its social structures?Wallerstein, however, insists that the creation of themodern

mechanical clock firstappeared and with it a new type of civilizationbased on the measurementof time"(1988: 96). 41On the "Was themedieval theeconomic historian question:tt economycapitalistic? Heaton responds: 14th

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 249 capitalistworld-economy took place not earlierthan 1450 and not laterthan the sixteenth century. Of course,he is verymuch aware of major changesin Europe priorto 1450, statingthat "the crisisof feudalismin Europe in theperiod of 1300-1450 [was]a crisiswhose resolutionwas thehistoric emergence of a capitalistworld-economy located in thatparticular geographic arena" (1984: 23). Yet he does not reallyelaborate on thisissue because Waller- stein-even when he has to acknowledgethe existenceof some featuresof capitalismin the late MiddleAges- perceives no fundamentallyimportant historical continuity in Europe between the period 1300 and c. 1500, whichcould help explain the transition fromfeudalism to capitalism: Therewere no doubtother times throughout history when such a transformation[into a capitalistworld-economy] seemed to be beginning,such as in theMediterranean basin between 1 150 and 1300.And therewere parallel occurrences at othermoments in otherregions of theworld. But for various reasons all theprior transformationswere abortive (1979: 142). This is a veryimportant statement, meaning that other regions, unlikeEurope, did not witnessthe emergence of capitalism.It also impliesthat what happened between 1150 and 1300 did not appear to have an impacton the emergenceof capitalismin 1450, in Eu- rope,since he dismissesit as "abortive."42But is therereally such an extremebreak withthe past?43Is it not plausible that,precisely because severalfeatures of capitalism were already strongly apparent priorto 1500 in Europe-more precisely between 1100 and 135044-

42 An "earlierattempt of transition[that] failed" (Wallerstein, 1979: 135). 45 In a more recent article,Wallerstein claims there is a fundamentaldifference between "protocapitalist"systems with capitalist features (investmentsof capital, extensivecommodity production, wage labor and Weltanschauungenconsonant with capitalism)on one hand and the "genesisof a radicallynew system"after 1400 out of the "crisisof feudalism"on theother hand (1999: 34). I argue thatone shouldbe carefulnot to missthe construction of the embryonic European capitalistsystem in theperiod 1200- 1400 preciselyto understanddevelopments in the world-economyin a much more intensifiedpattern, and on a largerscale in the period 1400-1600. Unfortunately,in Wallerstein's model, the sixteenthcentury capitalist world-economy is "virtuallya creationex nihilo"(Sanderson, 1995: 159). 44 For the argumentof continuityfrom medieval mercantile capitalism originating in northernItaly and the Low Countriesup to the emergenceof industrialcapitalism in westernEurope, cf.See (1928: 7-56).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 250 EricMielants and becauseof their overall continuing growing importance, the feudal systemsunk into a crisis?Not thatthe feudal system was suddenlyand completelyreplaced by a totallynew system of accumulation. It fell into an agonizing,slow period of decay,and became supersededby the dominantlogic of capitalism.In thissense, historicalcontinuity is revealing,as theeconomic historian John Day pointsout: Bythe mid-14th century, merchant capitalism has alreadyper- fectedthe instruments of economic power and businessorgan- izationthat were to serveit forthe nextfour hundred years: foreignexchange, deposit banking,risk insurance,public finance,international trading companies, commercial book- keeping(1987: 199).45 Moreover,there was alreadya valid moneymarket in the fourteenth century,where the banking and tradingcompanies had brancheswhich dealt in paper currency(and, likeevery market, was governedby the laws of supplyand demand and was subject to various seasonal and cyclicalfluctuations) (Bernard, 1976: 327). Accordingto Braudel,in hisconceptualization of the économie-monde, forms of capitalism-commercial, industrial, banking46- already existedin thirteenthcentury Florence and has sincewidened its grip over the economy.47Unlike Wallerstein, Braudel is not reluctantto

45 The same is said by Bouvierand Germain-Martin(1964: 21-22) and Lane (1977); forthe importance of creditinstruments in fourteenthcentury overseas trade, cf. Munro (1994a: X, 67-79). Usingtransfers of credit by exchange instruments "inter-city exchange bankers"could avoid movingbullion over long distances(Blomiquist, 1994: 345-46). For the use of bank moneyin medievalVenice, cf. Mueller (1981: 77-104). For rathershort distances,money changers were obviously very important (Chevalier, 1973: 153-60). For a discussionon the usage of bookkeepingby urban governmentsin westernEurope, cf. Samsonowicz(1964: 207-21). 4b Jacques Le Goffs conclusion of medievalbanking: "Par la masse d argentqu il manie, par l'étendue de ses horizonsgéographiques et économiques,par ses méthodes commercialeset financières,le marchand-banquiermédiéval est un capitaliste.Il Test aussi par son esprit,son genre de vie, par sa place dans la société" (1962: 41). Cf. also Roover (1948; 1971) and Blomquist(1979: 53-75). In thelate thirteenthcentury, Genoa introducedmaritime insurance contracts, which were adopted quite rapidlyelsewhere as well (Heers, 1959: 8-14; Wolff,1986: 136-39). For the links between insurance practicesand the availabilityof credit,cf. Leone (1983). 47 The functioningof theFlorentine economy in thefourteenth century is brilliantly exposed by Brucker: The merchant-entrepreneurwould buy the raw materials(wool and dyeing substances,woad and alum) and marketthe finished product once thewool had passed throughthe various stages of cloth production.[First] the imported

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 25 1 applythe term capitalism in theMiddle Ages,48 nor is he reluctantto apply WSA concepts to thatperiod.49 Indeed, whynot use WSA terminologysuch as periphery,semiperiphery, core, incorporation, etc.,earlier than the sixteenth century, concerning the emergence of capitalism(Wachter, 1996: 51-57)? For Wallerstein,the "axialdivision of labor involvingintegrated productionprocesses" is a conditionsine qua non whenone wants to identifya system capitalistic in nature(1993a: 294). Actually,from the late eleventhcentury on, energeticmerchant-entrepreneurs in Flanders50started to producestandardized textile goods whichwere intended for large scale export.51This export industrydrew its

wool would arriveat thewash house, itwould thenproceed to thefactory to be carded and combed; out to the countryto be spun; back into thecity for weaving and dyeing;once again into thecountry to be fulledand thenback to town finallyto be stretched,packed, checked, sealed and retailed or exported. . . . Duringthis process he would have recourseto workersdirectly answerable to him. He would alwaysremain in chargeand would alwaysretain ownership of the wool, as it progressivelybecame transformedinto doth. Spinnersand weavers remained financiallydependent on the lanaiolo: the looms were borrowed or sold on a pro rata basis of paymentby installmentsof work,or else theywere pledged to the lanaiolo in returnfor work (1998: 105). On the power of thesetaiolo, the merchant-entrepreneurin the Italian silkindustry, cf. Piergiovanni(1993). 48 Nor does Henri Pirenne(1937: 19). 4y "The European world-economyhas changed shape several times since the thirteenthcentury, displacing the core, rearrangingthe peripheries"(Braudel, 1992b: 70). 50 For the importanceof cloth from Champagne and Flanders to the Genoese marketin the twelfthcentury, cf. Krueger(1987), Reynolds(1929; 1930), and Laurent (1935: 1-20); forthe significance of Scottishand Spanishwool productionfor export, cf. Ewan (1990: 68-91), Childs (1978: 72-106), and Cipolla (1994:192); for the impactof marketfluctuations on transformationsin the textileindustry, cf. Munro (1991); forthe evidence that northerncheap cloths exported towards the Mediterraneanin the thirteenthcentury exceeded those of luxurywoolens, not only in volume but also in aggregatevalue, cf. Chorley(1987). The importanceof the trade in cloth is confirmed by Malanima: "In the 13thcentury large scale trade became increasinglylinked to the trade in textiles:of all the goods thattraveled across the Mediterraneanthese were the most valuable. In comparisonthe spice trade had become a secondaryaffair, with not onlya more limitedscale but also a much lesservalue since a sack of Flemishcloths was equivalentin value to betweenthree and fivesacks of spices" (1987: 351). Accordingto Ashtor,"the [long distance] trade of bulkycommodities, like cotton and alkali ashes, yieldedmuch more than thatof spices" (1985: 376). 51 The thirteenth-centurymerchant-entrepreneur was, of course,not onlyactive in the Low Countries,but also in Englandand Italy:"Disposant de capitaux,il maîtriseles importationsde matièrespremières, l'exportation du produit fini,assume les risques engendréspar la dispersiondes marchés,contrôle toutes les étapes de la productionet en déterminele rythme"(Sosson, 1991: 280).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 252 EricMielants strengthfrom a far-reachingdivision of labor, both employing semi- skilledand even unskilledworkers in large numbers(Wee, 1988: 320).52Braudel states that the boom of thethirteenth century arose out of the newlycreated division of labor as it proliferated(1992b: 315). This increasingdivision of labor, especiallyapparent in the textileindustry but also in the miningindustry,53 was quite signifi-

52 Thus in theFlemish textile industry, from the twelfthcentury on, each of thetasks described was performedby a specialist:breakers, beaters, washers,oilers, carders, combers, spinners,weavers, fullers,tenderers, teaselers, shearmen, dyers, pressers, pickers,greasers, and so on (Munro, 1988: 1-27). Even furtherspecialization within a singlemanufacturing process took place: "thedyers, for example, subdivided themselves into groupswhich concentrated on a particularcolor" (Wee, 1975: 204). "These were all employees of the draper and subject to the regulationof the industrial'police' who guaranteed the qualityof the product and were the agents of the drapers. The raw materialswere owned, and the workdirected, by businessmen.The day laborerswere actuallylittle more than the kind of proletarianfactory workers of the 19th century" (Gutmann,1988: 28-29). Thus Flandersand northernItaly had developed a genuinelycapitalist mode of production in which the workershad effectivelybecome wage earners, a proletariat,owing nothingbut theirlabor, even thoughthere was as yet no factoriesand theworkers worked in theirhomes, . . . the employmentof these workerswas subjectto the fluctuationsof the internationalmarket which they did not understandand over whichthey had no control.It is not surprising therefore,that both areas werebeginning to experienceindustrial strife: strikes and urban revolts(Koenigsberger, 1987: 225). Nicholas (1992: 136) also mentionsnascent capitalism in medievalFlanders but does not explain it. In 1356-58- afterthe great plague (!>-between 59% and 67% of the population in Ghent (64,000) was stillinvolved in the cloth industry("membres des métiers de la laine") (Prevenier,1975: 276-79; Us 8c Soly,1979: 10). In Tournai, Maubeuge, Valenciennes(Bruwier 1992: 261) and Ypres (Uytven,1981: 289) the situationwas more or less similar.In fourteenth-centuryFlorence, minimum 40% of theworking population was employedin the textileindustry (Uytven, 1981: 292; Franceschi,1993: 103).Jacoby (1994: 551) claimsthat in fifteenth-centuryCatalonia "between40 and 60% of thepopu- lationwas engaged in the manufacturingof woolens." For fifteenth-centuryLeiden and Oudenaarde one estimates34% and 50% ofthe population respectively (Prevenier, 1998: 82). For earlyfourteenth-century Bruges (more a commercialthan an industrialcity) the professionallyactive population employed in thetextile industry fluctuated between 31% (Dumolyn,1999: 53) and 37% (Blockmans,1997b: 263). 55 Cf. Braudel (1992b: 321-25); Pounds (1994: 329); Molenda (1989); Braunstein (1987). In earlyfourteenth-century Tuscany the impact of privatecapital fromurban merchantswho investedin thecountryside in order to extractminerals, can be deduced fromkey clauses of mininglaws which indicate "the separationof land ownershipfrom therights to thesubsoil (which allows the deposits to be exploitedby a personother than the owner of the property)and the possibilitythat exploitation can be undertakenby several persons in a partnership,who adopt a capitalisticstructure comprised of partners,salaried workers, and 'magistri'or directorsof theenterprise" (Piccinni, 1994: 225). Whilemany mines were initially exploited by the nobility, the medieval bourgeoisie took over the role of exploitingthe minesby the earlyfourteenth century (Hesse, 1986:

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 253 cantregarding social stratification and polarization.The leatherand metalindustries (lead, tin,copper, bronze, silver, gold, and iron)and finishedproducts made fromthem, were also important:"Metal- workingguilds had dividedas earlyas the thirteenthcentury into severaldozen independentprofessions and trades"(Braudel, 1992b: 315). Metal-workinggradually ceased to be a part-timeoccupation of thefarming community, and became thefull-time pursuit of profes- sionaliron-workers. "Dans le secteurdu métall'Europe médiévalea disposé d'une productionde masse,qui, par la structurede l'entreprise,les modalitésdu travail,l'offre sur les marchés,ne peut être considéréesous l'angle de l'artisanat"(Braunstein, 1994: 23). Mer- chantcapitalists who dealt in bar iron,first invested in ironworks, and thenleased and operated them(Pounds, 1994: 327).MAt the same time,the steadilyexpanding population in Europe duringthe economicupturn of the mid-thirteenthcentury resulted in massive land reclamation.55As the new expandingurban centersplaced greaterdemands on the agrarianeconomy (Mackenney, 1987: 78- 79), reclamationof land fromthe sea, especiallyaround greatriver

437-38). By c. 1400 leading miningtowns such as Kutna Hora in Bohemia employed 4000 to 4500 miners(Pollard, 1997: 179). 54 Especiallyin the valleyof the Meuse, at Huy and above all at Dinant-in the Low Countries-metal-working contributed significantly to internationaltrade ( Jansen,1989: 360-61). By 1430, the expansionof themetal industry in the area of Namur,Liège, and the Haut-Palatinat(due to the constructionof ever larger"hauts fourneaux"), lead to a takeoverof the industryby merchantcapitalists (Gillard, 1971; Stromer,1991: 46-47). But paper-,glass-, mirror-, and crystalmaking and, lastbut not least,shipbuilding (Wolff, 1989: 49-53; Favier,1996: 188) were also quite importantindustries. For Modelskiand Thompson (1996: 237), the Venetian Arsenal "where standardizedgalleys were con- structedalong an assemblyline, can probablyclaim to be one of Europe's firstmodern industrialfactories." For medieval internationaltrade and the "rise of an English merchantclass," cf. Miller&: Hatcher(1978: 79-83); Miller8c Hatcher (1995: 181-254). °° One can of course, not deny the impactof a considerablepopulation growthin the thirteenthcentury. One resultis thatnot everyonecould be fed fromhis own land, which in turn led to more "self-employment,dependence upon trade and a greater availabilityof wage labor" (Britnell1993: 104). The latteris, of course,very important. Accordingto Goldthwaite,the labor contractin medievalFlorence was thoroughlymonetized. The employer calculated wages entirelyin precise monetaryterms, he rarelypaid in kind . . . paid no more forlongevity on the job, and providedno social and healthbenefits for unemployment, accidents or old age . . . thateven the humblestof men thoughtabout theirwages and daily purchasesin the abstractlanguage of moneysof account ratherthan in termsof medium of exchangeis a markof the extentto whichtheir attitudes were conditioned by the practice of offsetting[or giro transferon private accounts]within the frameworkof a writtenaccounting record (1991: 649).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 254 EricMielants estuaries,became veryimportant: once the sea had been excluded fromthe area, theland provedexcellent, fertile, flat, and stone-free soil (Ponting,1993: 125). This reclamationof land was veryimpres- sive in Flanders and Holland (specificallyin the areas of peat moors),56albeit the greatestprogress was being made in northern Italy(Pounds, 1994: 170). Investmentswere made in reclaimingthe wet and fertilevalley of the Po and in creatingpolders in the Low Countries (Alberts& Jansen, 1964: 74-79; Tebrake, 1985). For merchantsin fourteenthcentury Milan or Venice, or burghersin Brugesor Ypres,conceiving land as a commoditywhich one could acquire,improve, and turnto profit,became quitenatural (Pounds, 1994: 109-10; Ponting,1993: 154). Land reclamation(e.g., Verhulst, 1990b:54-55) became in itsturn thus an importantaspect of capital formation(Smith, 1991: 100). Speakingof the exploitationof land, whatabout theincorporation of newarenas, by WSA definedas the "historicalprocess by whichnoncapitalist zones are absorbed into the capitalistworld-system [where] inhabitants of territoriesthat havebeen outsideare broughtinto the system through colonization, conquest, or economic and political domination"(Hopkins & Wallerstein,1986 quoted in Dunaway,1996: 455)? Cannotthe creation of the Crusadingstates in the Levantin the twelfthcentury- a regionthat was stronglyinterlinked with intercontinental trade- or the Reconquistaof the IberianPeninsula (ending in 1492) be inter- pretedas an identicalform of expansion,subjugation, domination, and exploitation57as Spain's conquestof theNew World,albeit on a

56 The productionof peat was not onlyvery important in the Low Countriesof the sixteenthand seventeenthcenturies, but for the fourteenth and fifteenthcenturies as well (Leenders, 1989: 251-71). 57 Cf. Bernard(1976: 292-93) in general;cf. Le Mené (1977: 207), Thiriet(1977: XIII 8c XV), and Jacoby(1999) forthe case of medieval Crete; Poisson (1995 8c 1997), Abulafia(1993: 1, 28-29), Day (1983: 198-200), and Tangheroni(1995) forthe case of medievalSardinia which exported primarily grain and salt;Cancellieri (1989) forthe case of Corsica; Hocquet (1990) for certainparts of Dalmatia; Ashtor(1978b: VI, 5-53), Jacoby(1979: VII, 225-64), and Issawi(1970: 254-57) forthe case of the Levant in the Middle Ages; cf.Thomson (1998: 49-50) forparts of Greece,the Aegean, and the Black Sea; the case of medievalSicily, however, is more doubtful(cf. Epstein,1989) and the NorthAfrican states in the westernMediterranean were just too strongfor the Italian city-states( Jehel, 1993: 66; Dufourcq,1990: III). But thecolonialism which was practiced by city-statessuch as Venice in the eastern Mediterranean(Wolff, 1986: 214-15), or Genoa in the Black Sea area (Balard, 1978; 1992; Scammell,1981: 162), was not just politicalbut financialas well (Day, 1985). Manysimilarities exist between these forms of colonialismin the easternMediterranean and laterforms in the Atlantic(cf. Balard 8c

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 255 smallerscale?58 If all these parallelsexist, then what is actuallyso

Ducellier,1995; 1998; Balard 1989; 1990; Verlinden,1970). For instance,the "colonization of the ByzantineEmpire" by the Italiancity states (Thomson, 1998: 63-96), cannot be separatedfrom the acquisition of raw materials such as alum "whichwas indispensable for textileproduction in westernEurope" (Verhulst,1998: 110; Dahl, 1998: 40) and cotton,vital to both the textileand candle industries(Mazzaoui, 1981: 43-44, 102-03). Accordingto Jacoby, the government in theVenetian metropolis "focused on theimmi- grationof specificprofessional groups, with a clear emphasis on textilecraftsmen, in orderto promoteindustrial development" (1994: 558), whilein itscolonies no industries were allowed thatcompeted with those of Venice (Scammell,1981: 122). Essentially,the sustenanceof major merchantcapitalist city-states in Europe and the preservationof their"recurring growth" cannot be separatedfrom the continuous(re)construction of a colonized peripherywhich served as a source of foodstuffsand raw materials(Jacoby, 1979: 1,45), and a marketfor the city-states'industries. Moreover, a close investigation of sugarproduction on Cyprusand Cretein thefourteenth century, and on theMadeira islands,the CanaryIslands, and theAzores in the fifteenthcentury, reveals this strategy of capitalaccumulation was copied and transplantedon a muchwider scale in the New Worldafter 1500 (Heers, 1981: 12; Solow, 1987; Galloway,1977; Wartburg,1995), as was the slave trade-in itselfa growingsource of profitduring the Middle Ages (Verlinden, 1977)-which wenthand in hand withit (Thiriet,1977: XIII, 63-64). Thus, insistingon a fundamentaldifference between these formsof medievaland modern colonialismas Bartlett(1993: 306-13) does, is not warranted(Lewis, 1978: DC,37). Last but not least, one should not forgetto takeinto account thepractices of colonialismimplemented by the city-statesvis-a-vis their respective hinterland, equally importantfor the supplyof food and raw materialsto the city(Blomquist, 1969: 69; cf.footnote 77). 58 To whatextent is it an understatementto claim that"à la findu MoyenAge déjà, s'étaitétabli un rapportpays développés- pays sous-développés entre l'Occident chrétien et les pays orientauxet maghrébins:l'emprise économique a précédé la domination politique" (Ashtor,1992a: IV, 385)? Bozorgnia statesthat "soap and especiallywestern textileswere so extensivelyexported to the Middle East thatby the second halfof the fourteenthcentury the textileand soap industriesof Syriaand Egyptwere no longera matchfor the manufacturersof Europe" (1998: 85). Cipolla agrees: themake-up of international trade between East and Westseems to pointto the thirteenthand fourteenthcenturies as the period when Europe gained the upper hand In thetwelfth century the West still exported to theEast mostly raw materials. . . and importedmanufactured goods [but] by the fourteenth centurythe situationhad completelychanged (1994: 210). By then,the expansion of the westerntextile industries achieved a growingtechnological edge over theireastern competitors. It was increasinglyprofitable to investin the East in the purchase of industrialraw materialsintended for western manufacturers,than in finishedproducts. This shiftcontributed to thegradual decline of the textileindustries in Byzantiumand the Levant,including Egypt (Jacoby,1994: 558; cf. Malanima,1987: 337-51; Smith,1991: 54). Bautier concludes: "L'Orient fournissaitles épices, mais aussi nombres de matières premières:coton, lin, alun, laine; il recevaiten échange des produitsmanufacturés à la fois coûteux et introduitsen grandes quantités: coton filé et toiles, draps de laine, produitsde l'industriemétallurgique" (1992: IV, 301). This resultedin "l'enrichissement

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 256 EricMielants modern,that one can see originatingonly around 1500 AD?59This criticismis not onlydirected at theWallersteinian version of world- systemsanalysis, but also to a certainextent at Arrighi(1994) who (himselfan Italianbeing in favorof emphasizingthe importance of medievalItaly) takes the story further back to circa1400 AD.60 Venice may indeed have been the first"true prototypeof the capitalist state,"as Arrighi(1994) pointsout, but did he notwant to date capitalismin Italyprior to 1400 because it did not properlyfit the explanatorymodel of his book? And whylook onlyat theItalian city- statesto explainthe origins of capitalism? In conclusion,the concept of commercialcapitalism is com- pletelyapplicable in the late Middle Ages throughoutthe entire intercity-statesystem of westernEurope (Chaunu, 1969: 311) and historicalcontinuity is undeniable(De Vries& Woude, 1997: 159- 65; Hunt & Murray,1999). As a consequence,I suggestto rethink the temporalpredisposition put forwardby WSA. But let us now returnto theproblems invoked by the spatial predisposition of WSA: the emergenceof capitalismwithin Europe. For Wallersteinthe transition from feudalism to capitalismtakes place on the European continent(1984: 23). This bringsus back to whetherone should attributethe transitionto internalor external transformations.Wallerstein (1974; 1980) focusedon thetransition withinEurope, coincidingwith the impact of Europeans upon

de FOccident aux dépens de lOrient,commencé en Syrie,poursuivi à Constantinopleet dans tous les comptoirséchelonnés sur les côtes de la mer Noire et de l'Asie Mineure** (Bautier, 1992: 304). 59In otherwords:

Des formesd'investissement que Ton peut qualifierdéjà de capitalistesétaient assez largementconnues et pratiquées,en milieurural comme en milieuurbain, sur terre comme sur mer II importe de reconnaîtreque le capitalisme "protestant"et "nordique"des Temps modernesest largementissu des formes de capitalismebien plus qu'embryonnairesapparues pendant les derniers siècles du MoyenÂge (Contamineet al., 1993: 403-09). However,I do not deny the qualitativeshift which takes place in the sixteenthcentury whena globaldivision of labor takesplace and theinterstate system replaces the intercity- statesystem: indeed, city-stateswere too smallfor the furtherceaseless accumulationof capital on an ever wider scale: Genoa or Venice could colonize and exploit theirrural hinterlandor theircolonies (e.g., Cretewhich supplied Venice withgrain, timber, sugar, wax,wine, and dye[Scammell, 1981: 106]) in a core-peripheryrelationship, but obviously not the Americas. 60 So does Rénouard when he looks into "l'essor du capitalismefinancier et indus- trieldu XVe siècle" (1949: 197-250).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 257 others,i.e., the "colonies"and theirsubsequent economic contribu- tionsto Europeannations' economies in general(1983: 580-83). But other WSA literatureattempts to analyze the impactof external factorson Europe priorto the "long"sixteenth century. According to Abu-Lughod,the existinglinkages in the thirteenthand fourteenthcenturies constituted a systemsince "all theseunits were not only tradingwith one anotherand handlingthe transittrade of others,but had begun to reorganizeparts of theirinternal economies to meetthe exigencies of a worldmarket" (1989: 355), making the effectsof thisinterdependence so great thatdeclines in one regioncontributed to declineselsewhere (1989: 359). Bycomparing a clusterof interlinkedregions with one anotherand analyzingthe commoncommercial network of productionand exchange(1989: 13) and statingthat "it would be wrongto viewthe 'Rise of theWest* as ... an eventwhose outcomewas attributableexclusively to the internalcharacteristics of Europeansociety" (1989: 361), we can no longerattempt to explainthe emergenceof capitalismby focusing exclusivelyon certaintransformations within Europe, or rather, withinnorthwestern Europe (Sweezy,1976; Takahashi, 1976: 74), or internal contradictionswithin England and France themselves (Dobb, 1976: 59 and Brenner,1985a; 1985b). Indeed, one of the mostvaluable contributions of WSA is a coherentholistic perspective,which undermines the nation-state as unitof analysis to explain theemergence of capitalism.61 But this leaves open thequestion why capitalistfeatures took place in Europe,that colonized America, and not in, for example, West Africa(Sanderson, 1996: 512).62Yet certainspecific phenomena within medieval Europe may have stimulated the emergenceof capitalismthere, and not elsewhere.63Al-

61 In thisperspective, it makesno sense to claimthat one singlenation-state was "the cradle and nurseryof capitalism"(Macfarlane, 1988: 185). 62 The Eurocentriccritique poses the question: "Whyspeak of transitionto capitalism only for Europe? Indeed, whynot abandon the notion of transitionaltogether in favorof a constantevolution of a systemin existencefor a long while?"(Amin, 1993: 251). Blaut (1993) contendsthat between 1000 and 1500 thewhole world was movingin the directionof capitalism. 63 Holton notes that"capitalism of a modernkind developed ratherin therelatively decentralizedWest, where political structures were far from monolithic, allowing internal differentiation"(1986: 134). Merringtonrefers to the "independentgrowth of urban capital" in the Westerncity in contrastto the Eastern one: "In China 'city air*made nobodyfree" (1976: 178). Cf.also Bairoch(1989: 227-31). For Hicks "thefact that Euro- pean civilizationhas passed through a city-statephase is the principal key to the

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 258 EricMielants thoughsome in WSA haveadvocated civilizational underpinnings, I wantto stressthe importance of the European intercity-state system. As in theinterstate system later on, constantcompetition due to the "absenceof a unicentricpolity, that is, the existence of a multicentric politicalstructure over most its space" (Mandalios, 1996: 283) is applicablein theMiddle Ages as well.Furthermore, recognizing the importanceof the politicalnature of the city-statesystem in direct symbiosiswith the existing economic system of merchant capitalism (e.g., Epstein, 1993), disarmsthe criticismthat WSA is "viewing politicalprocesses as epiphenomenalin relationto economiccausa- tion"(Zolberg, 1981: 255). Let me at thispoint make it clear to the readerthat it is notmy contention merely to "de-construct"theoretical perspectivesand plead fora mere returnto historicalarchival research in order to come closer to an "ObjectiveTruth" (e.g., Grassby,1999: 61-73). Historians'incessant warnings about "impru- dent generalizations"(Sosson, 1990: 348) and "pretentiousand ill- founded grand hypotheseslaunched by some sociologists"(Dyer, 1991: 1) due to the latter'sconstruction of "theoriesthat seem to havebeen pluckedout of theair" ( 199 1: 1) is howevernot a virtuein itself,for what is historywithout theory?

THE INTERCITY-STATE SYSTEM OF THE MIDDLE AGES

I would like to propose an alternativetheoretical framework in the remainderof thisarticle. After 1100 AD,features of capitalism become moreand moreapparent in Europe,the mutual existence of feudalismand capitalismwas entirelypossible up to ca. 1350, and thiswithin an intercity-statesystem, before a crisismade one logic (the capitalistone) more dominantover theother (the feudalone). Conceptually,most capitalisticphenomena64 one findsin the six-

divergencebetween the history of Europe and thehistory of Asia" (1969: 38). In focusing on the European medieval intercity-statesystem, I do not wish to homogenize the European townsince it existedin differentforms (Delumeau, 1998). But all overEurope the cities at some point reached a very high degree of autonomy, sometimes independence,as theywere ruledby their merchant-elite. This distinguishesthem from, forexample, Chinese cities(Deng, 1999: 108, 199), or Islamiccities (Udovitch, 1993: 792) where merchantscould not acquire significantpolitical or militarypower. M Wage labor,which is indeed centralto capitalism(Wood, 1999: 94), specialization of industries,and a complexdivision of labor,class struggles,profits from trade derived

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 259 teenthcentury are alreadyapparent in the Middle Ages.65My hy- pothesisis thatcapitalism was appearingin westernEurope from the late twelfthcentury onward. True, the intercity-statesystem of the twelfth-fifteenthcenturies had moreinterregional trade characteris- ticsthan the dominantly local autarchicproductions that character- ized Europe priorto the twelfthcentury or the more international space of flowsthat would shape theworld-economy in thesixteenth century.Yet, one should not forgetthat "many aspects of the com- mercialexploitation of propertythat have been identifiedfor the earlysixteenth century had interestingequivalents two centuries earlier,at a time when the volume of commercewas probably greater"(Britnell, 1998: 115).66Therefore, I suggestto analyzethe qualitativeshifts that occurred in Europe in thetwelfth century (the shapingof a politicalintercity-state system within mostly interre- gional trade networksand the emergenceof the capitalistworld- economy with an interstatesystem with international-indeed intercontinental-trade networks in the "long"sixteenth century).67

fromthe fact that entrepreneurswho own the means of production are involvedin specializedproduction and competition,complex financial techniques and thesystematic constructionof an exploitableperiphery to furtherthe ceaseless accumulation of capital, are in myopinion the keyvariables that constitute a capitalistsystem. 65 To quote Mollat: "L'intensité,la fréquenceen sont nouvelles[au 16e siècle],non la chose. Progrèsquantitatifs certes; mais tonalitémédiévale" (1977: I, 45) or Mauro: "dans le domaine des techniquesfinancières, commerciales, industrielles, rien de nouveau après 1500. Ce qui faitle changementc'est leurmultiplication" (1988: 758). Cf. also Lopez's (1952: 320) statementsandjehel's (1993: 438-40) conclusionsin his impressive studyon Genoese history. 66 tt Therefore, theassumption that English society was commercializingmore rapidly [in the sixteenthcentury] than duringearlier centuries" (Britnell, 1998:115) has to be abandoned. One should not forgeteither that the rural population of England and France was possiblygreater c. 1300 than in the earlyeighteenth century (Titow, 1961: 218; Delatouche, 1989: 36). The volume of trade prior to the outburstof the plague in the mid-fourteenthcentury, should not be underestimated,even when compared to the earlysixteenth century. For instance,scholars may make much of the bankingactivities of the Medici in the late fifteenthcentury, but the capital at their disposal- their economic power- was clearlyinferior to that of the Peruzzi of the early fourteenth century.This is also reflectedby the factthat "theiremployees numbered well below thoseof thePeruzzi and were not muchmore numerousthan those of theAcciaivoli, the thirdranking bank in the pre-plagueperiod" (Lopez & Miskimin,1962: 424-25). 67 Thus, thequalitative shift from an intercity-statesystem to an interstatesystem can not be separated fromthe creationof a capitalistwor&^economy. Within the emerging European nation-state,the merchantclass could not onlyaspire to occupycrucial posts in the bureaucracyand the administration(e.g., Prak, 1992: 192; Galland, 1998), but it could regularlyuse the (mercantile)state's strengthto support its own colonial and capitaliststrategies all over the world,as these practiceswere rooted in the policies of

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Acknowledgingthat initial commercial specialization in theeleventh centurywas a featureof regionaldevelopment (Britnell, 1995: 16, 24) and regionalmarkets, I suggestlooking into regionalstudies (such as Derville [1996], Tebrake [1985], Wachter [1996], and others),which may in turnhelp us situateand analyzemore ade- quatelythe emergenceof capitalismprior to the "long" sixteenth century,that is, withinthe period of the Middle Ages (Morimoto, 1994: 17). Drawingon the Brennerianperspective, one can also investigateto whatextent class formationschange constantlyover timeand when duringthe Middle Ages thejuridical basis of eco- nomicpower (within the feudal logic) gradually becomes less signifi- cantwhen capital accumulation becomes the more dominant logic of an increasingnumber of merchant-entrepreneurs.Another very importantand relatedissue is thecorrelation between the nobility's powerover its peasants in a certainarea on one hand and theloca- tion of thatarea withinthe geographic,socioeconomic, and geo- politicalrealities of theearly modern European region.68 It seems also clearto me thatthe medieval intercity-state system (twelfth-fifteenthcenturies) had its specificpolitical framework:

medievalcity states (e.g., Baratier,1970: 338; Lopez, 1970: 347). Althoughcity-states can be foundelsewhere such as on thelittoral of the Indian Ocean duringthe whole Middle Ages (e.g., Lombard, 1988: 15; Curtin,1984: 121), itwas onlyin Europe thata transition to an interstatesystem occurred, in whichmerchants retained so much politicalpower (cf. also Rodinson, 1970: 32). ™ It is, forexample, quite clear thatin thirteenth-centuryBritain peasants could run away fromthe land theylived on to escape a nobleman's oppression. But, as Britnell pointsout, this implied "exchanging the likelihood of economic security for the certainty of insecurity[since] even if he was sore pressed by the exactionsof his lord, custom would normallyensure thata hereditarytenant could feed his familyfrom year to year. To abandon thathereditary right was to commithimself to a lifedependent upon wage- earning"(1993: 75). Indeed, quite riskyin thirteenth-centuryEngland, but muchless so in thirteenth-centuryFlanders: the socioeconomic and geopoliticalreality of peasants livingin the proximityof the urban core was quite different.The far-reachingdivision of labor thereand the employmentof large numbersof skilledand unskilledworkers (especiallyin the textileindustries), significantly lowered the riskfor peasants as faras the migrationto thecity (and wage-labor)was concerned.This in turnhad an impacton the power of the nobility.Then one can raise the question to whatextent the risksand opportunitiesof resistanceof English peasants were altered depending on the hier- archicalcore-periphery relation between, for instance, England and the Low Countries (in thethirteenth century) or in thefifteenth century, when England's socioeconomic and geopoliticalposition within the early modern European regionhad changed(cf. footnote 81). The same question can be raised regardingthe freedomof peasants in eastern Europe and the urban core of the Low Countriesin the fourteenth-seventeenthcenturies(cf. footnote31).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 261 local authorities,i.e., theoligarchy- from 1200 AD essentiallya commercial capitalistclass- (Derville, 1997: 125), created deliberate policiesregarding poverty relief to increasea reservelabor force and depresswages.69 This povertyrelief basically kept in checkthe poor who "werenot willingto jeopardize theirmiserable allowance. In urban revolts,we findamong the ringleaderscraftsmen in well de- finedcategories who had sufferedloss of incomeor status... it was not paupers who led the fraybut groups witha certainlevel of prosperitywhich they felt was threatened"(Blockmans & Prevenier, 1978: 56-57; cf. also Rotz, 1976). This governmentalpolicy is not surprisingsince regarding cloth production (the economic backbone of city-statesin theLow Countries)the "magistrateworked hand in glove with the entrepreneurs"(Brand, 1992: 17; cf. also Jansen, 1982: 176 or Wee, 1975: 208). The same is truein the Italiancity states(Mollat, 1986: 200) or in some Germancity-states (e.g., Halaga, 1983; Stromer,1991: 44). In mostof Holland,the established elites succeeded in preventingthe guildsfrom becoming powerful pres- sure groups:in 1313 Count WilliamIII evenforbade the formation ofguilds (Brand, 1992: 25).70The verystrict wage policies in theLow

69 This "social policywas clearlyinspired, not by the principleof Christiancharity but by those of capitalistenterprise ... the part playedby public poor reliefcontrolled the relativesurplus of population in the townsand exercisedsupervision of the labor- market"(Blockmans 8c Prevenier,1978: 56). Cf. also Soly (1975: 584-97). 70 In the Dutch cityof Leiden, accordingto Brand, drapers were theonly people withsufficient capital to purchaseraw materials, pay wages and to runsome risks[while] spinning, carding, combing, fulling and dyeingwere done mostlyby unskilledlaborers First,the producers,descendants of the circle of small independent artisans,managed to climb to the position of merchantand capitalist.Second, some tradersbegan to control production directlyand thus became capitalistindustrial entrepreneurs. Wealthy artisans focusedon the concentrationof labor,i.e., theyinvested in centralworkshops where laborerswere put to work for low wages in order to marketthe final productat the lowestpossible price. But entrepreneurscentralized production and dividedit into a broad spectrumof treatments.Since the variousstages of productioncould be done byrelatively simple means, and muchof thework was done withinthe family, investments were low. This systemhad manyadvantages forthe drapers and strengthenedtheir power over the part manufacturers; itwas also a resultof the differentiation oftasks which resulted in littlemutual solidarity among the waged laborers, so that any attemptto revolt could easily be suppressed . . . the entrepreneurs(industrial capitalists working in close co- operationwith the urban government) frustrated the emancipation of artisans by wayof the puttingout systemand a repressivewage policy.The artisans'way to the marketwas cut offand theywere robbed of anypossibility of organizingin politicallyinfluential guilds (1992: 26-32).

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Countrieswere actuallynot surprising:it was preciselythe fierce competitionon theregional and internationalmarkets, which made the downwardpressuring of wages combinedwith the increaseof production,the only effective way to makeprofit. This was done by exploitingthe fullers(and to a lesser extentweavers) who even in periodsof economic upturn could hardlymake ends meet(Brand & Stabel,1995: 203-04, 219; Boone & Brand,1993).71 Some thirteenth- centurymerchants on the continentwere capable of concentrating much power in the workplace: theybought the raw materialsto make doth, controlledand supervisedits fabrication, and preoccu- pied themselvesalso withthe sellingof thefinished product on the marketplace (Haquette, 1997: 882).72It shouldalso be emphasized

Howell (1986) is thereforeincorrect to classifythe textileindustry in Leiden as small commodityproduction (cf. Brand, 1996: 169-80). The suggestionthat small commodity productionwas supportedby some urban eliteswho preferreda "moral community" (DuPlessis & Howell, 1982: 80) over profitsand capitalistrelations, hinges upon the erroneousdismissal of subcontractingon one hand and theview that corporatism would somehow be antitheticalto merchantcapitalism on the otherhand (cf. also Lis 8cSoly, 1997a: 12-17; Derville,1987: 723; Stromer,1991: 35-38). 71 aIn the Low Countries,textile guilds had verylimited powers in controllingthe supply and cost of their inputs, including labor, and thus in settingmost wages. Furthermore,their price-settingpowers were limited,since theycould not prevent competitionin theirmajor markets"(Munro, 1990: 44). "The so-calledweaver-guild was in realityan association dominated by master weavers who, as the chief industrial entrepreneurs,organized productionby a domesticputting-out system. Most of their employeeswere unprotected,defenseless females whose piece-workwages the weaver- draperscontrolled without difficulty" (Munro, 1994a: 383-84). A commonfeature from the thirteenthcentury was "a steadymultiplication and fragmentationof guilds,[which was] deliberatelyfostered in places (Venice, Siena) by a calculatedmerchant policy to divide and rule" (Jones, 1997: 250). Not only merchant-entrepreneurs,but also some fourteenth-centuryGerman city-states(ruled by the commercialelite) even acted as verleger,in employingpoor unemployedwomen as textileworkers (Stromer, 1989: 877). Effectiveresistence within the city-states by the working poor was difficult.According to Geremek "the cost of raw materialsand the instabilityof the market,coupled with increasinglycomplicated technologydemanding specialized skills and an extensive divisionof labor,often forced the craftsmento submitand workfor the merchants and entrepreneurswho organized production"(1994: 64-65). In addition,one should not forgetmany workers had no controlover the price of primaryresources (wool) since it had to be importedfrom far away (for the case of Flanders,first England, Scotland, and eventuallySpain). 72 This also applied for late fourteenth-centuryHolland (Kaptein, 1998: 43) and thirteenthcentury England, where entrepreneurs "bought wool and had it washed and dyed; they gave it out to carders and spinners;they employed weavers and fullers throughoutthe town, under stringent supervision, at piece-ratesfixed by themselves; and theysold thefinished cloth at thegreat fairs of eastern England" (Miller 8c Hatcher, 1995: 112). In herbrilliant study on regionaltrade in medievalExeter, Kowaleski clearly points out that"a closerlook at thecommercial relationship between doth merchantsand cloth

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 263 thatcapitalism not onlyintensified in thecloth industry of the Low Countries,but also in the Italian city-states,competing in the ex- pandingEuropean market,73which in its turnwas part of a larger

workerssuggests that the capitalist clothier so commonin thesixteenth and seventeenth centurieshad begun to emerge by the late fourteenthcentury in Exeter"(1995: 150). Even small English towns such as Stratford-upon-Avonwere quite affectedby the internationaltextile trade: for instance,athe monks of WinchcombeAbbey, who held threemanors within easy cartingdistance from Stratford, contracted to sell thewool of theirwhole estatein theearly fourteenth century to Italianmerchants" (Dyer, 1997: 56- 57). Accordingto Lis 8cSoly (1994: 372-73), in fourteenth-centuryCologne and Florence the "overwhelmingmajority" of weavers were workingdirectly or indirectlyas sub- contractorsfor wealthy merchant-weavers who "controlledall stages of the production process" (cf. also Favier,1998:185). Althoughcorporate regulations did exist,they did not hinderthe concentrationof productionthrough networks of small workshops.In latefourteenth-century England, the practice of dyers working for merchants (or weavers and fullersfor local gentryand ecclesiasticalinstitutions), on a contractualand sub- contractualbasis, was quite widespread.The resulting"dependence of clothworkers on wages or paymentsfrom clients who contractedfor theirlabor [throughtask work or piece work]"(Kowaleski, 1995: 153) is striking.Actually, the practices of subcontracting were even extended into the realm of warfareby the Italian city-states(France, 1999: 134). 73 Strengthenedby larger profit margins, the greaterfirms swallowed up the smaller,reducing many petty masters and independentcraftsmen to the pennilessstatus of wage-workers,proletarian sottoposti. And as thework- forceexpanded, their terms of employmenthardened. Under thepressure (or pretext)of competition,working hours, including night hours, were stretchedto the limitsof endurance,wage rateslowered to whatin many places by the fourteenthcentury was near starvationlevel, and wage earn- ings depressed by paymentin debased coin or by truck in overvalued goods, and byloans and pay advanceswhich tied workersto employersas much as peasants to landlordsby rigidbonds of povertyand debt (Jones, 1997: 251; cf. also Ferguson,1962: 271-72). In fourteenth-centuryParis artisansworked up to sixteenor seventeenhours per day in thesummer and around elevenin thewinter (Epstein, 1991: 189). In fourteenth-century London thejourneymen working in thecloth industry "were used as piece workers(paid by the piece ratherthan by the day or week)" (Hilton, 1992: 84). Fullersin fourteenth- centuryGhent were mostlypaid by thepiece (Boone 8cBrand, 1993: 173); so were wool combersand cardersin thirteenth-centuryGenoa (Epstein,1988b: 120). This of course, made theirincome unstable since it was subject to economic conjuncturesand price fluctuations(Uytven, 1982: 208). In fourteenth-centuryFlorence one can also see the contoursof "le salariatde l'époque moderne; ni artisans,ni serfs,ni salariés de l'artisanat: contrôléspar un contremaître,nombreux, massifîés, interchangeables, libres de vendre leurs bras pour un salaire. Les contemporainsne les appelaient pas ouvriers salariés,ils avaientforgé un sobriquetde méprispour désignerleur condition:Ciompi" (Stella,1989: 544). The lowestsocial stratumof theagricultural workforce in thecountryside was not betteroff than the urban proletariat,since landlesslaborers were also "dependent onlyon wage income: . . . sawyerswere employedon a flatdaily-wage and at a piece-ratepaid per 'hundred' feet of board sawn" (Clark, 1991: 234). Althoughmost studies focus on the exploitationof urban-basedwage laborers,wage labor on the countrysidewas everythingbut exceptional:in fourteenth-centuryEngland, "the propor-

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worldeconomic system(Abu-Lughod, 1989: 356-61). In addition, due to the restructuringof marketsand because of a deliberate policyof entrepreneurs,constant reallocations of capitalfrom the urban centersto the countrysideoccurred (Heers, 1963: 121-24; Saey & Verhoeve,1993: 107), since the latter"offered more abun- dant and cheaperpart-time agricultural labor, with a lowercost of living,virtually tax-free production, and an escape fromspecific guildand urbanregulations" (Munro, 1994a: 378; cf.also Geremek, 1994: 116).74This aspect of capitalreallocation (investments in the countryside)which continued unabatedly up to thesixteenth century (e.g., Prevenier,Sosson & Boone, 1992: 164-66) also impliedin- creasedinvestments in technologythere: for example, windmills and water mills.75In general,this "shiftto lower wage zones and the possibilityof further intraregional diversification" (Wee, 1993: 205- 08) was in directcompetition with the urban proletariat(Brand &

tionof people who obtained most of their living from wage work must have exceeded a thirdof the whole country, rising to two-thirdsin parts of the east" (Dyer, 1989: 213). Onlyafter the Black Death, did wages go up (Gavitt,1981), although this should not be exaggerated(Perroy, 1964: 244-45). 74Holbach, for instance, notes that laborcosts were the main motive for the relatively early transfer of weaving into thecountryside. The transplantationoflabor intensive tasks to cheaper centers of productionintensified in the late MiddleAges [and] jeopardizedthe economyof the older centers. In drawingthe countryside's resources into the productionprocess, "putting-out" presented (merchant and wealthyartisan) entrepreneurswith considerable competitive advantages. Older cloth towns couldlose jobs to thecountryside [while] entrepreneurs had more elbow room and could alwaystransfer production to otherplaces in order to evade unpleasantstringent regulation (1993: 238-43). Accordingto Stabel"average wages in thecountryside were only 60 to 70% ofthose in thetowns of the same region" (1997: 131)As vander Wee (1998)points out, there may be a significantcorrelation between increasing reallocation processes in theLow Coun- trieson one handand theimplementation ofa strategyof import-substitution in fourteenth-centuryEngland on theother hand, as theisland was transformedfrom a raw producerof woollensfor the textile industry of theLow Countries,to a producerof textiles,hereby increasing the competition and thesubsequent need to reducewages withinthe Low Countries. 75 These technologicalinnovations and techniques(mechanical fulling displacing laborpower where water power was available) became widespread in the early fourteenth century(Carus-Wilson, 1952: 410-11) and theirsocioeconomic implications can notbe underestimated:infourteenth-century England (population 6 million),for every 400-600 peoplethere was a mill;in fourteenth-century France (population 17.6 million) this was 440 personsper mill(e.g., Langdon,1997: 284-85 and the citedliterature there). Accordingto Pacey,"by 1250-1300, the foundations had alreadybeen laid for the later technologicalascendancy of Europe" (1978: 39).

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Stabel,1995: 220), whichcaused the guildsof largertowns such as Brusselsand Ypresto organizefutile "warlike expeditions to destroy looms in therural areas aroundthe towns" (Wee, 1993: 209).76Only withina radiusof a couple of miles,however, were the guildscapa- ble ofeliminating competition from their immediate rural surround- ings(Thoen & Verhulst,1986: 54).77The expansionof a putting-out (Verlag)system beyond the town walls was characteristicfor prelimi- naryhighly labor intensivetasks like "combing,carding, and wool- spinning"(Holbach, 1993:235-36). Manyurban-centered industries eventuallymanaged to adapt themselvesto changingsocioeconomic situations(by specializingin higherquality products), but it is likely thatin severalcities (especially those which had no staplerights for grain) the wages of manyunskilled and unorganizedworkers re- mainedstructurally insufficient (Blockmans, 1983: 88). Mosturban- based unskilledwage laborerswere quite vulnerable:the fear of massive"downsizing avant la lettré"and long-termunemployment was a dailyreality (Jones, 1997: 253). Not surprisingly,social explo- sions could be sudden and violentduring periods of economic recession.Social discontentin urban centerswas focused on the

76 In the Low Countries,only Ghent was verysuccessful in controllingits immediate ruralhinterland (Thoen, 1992: 56-57; Boone, 1990: 191-97). For an overviewof various militaryexpeditions organized by urban militiasagainst competing drapery production in the countryside,cf. Nicholas, (1971: 75-116, 203-21). 77 The way Ypres and Ghent terrorizedtheir hinterland in the early fourteenth centuryto protecttheir monopoly in cloth productionresembles Wallerstein's core- peripherymodel (Prevenier,1997: 196). In general,the Italiancity-states were the most successfulin subjugatingand dominating their rural hinterland,the contado(e.g., Nicholas,1997: 87; Perrot,1983: 93-97; Bowsky,1970: 225-55; Stabel,1997: 73 ; Redon, 1994) althoughthe same can be said about manyFrench cities such as earlyfourteenth- centuryToulouse (Mousnier, 1997: 347-79) or fourteenth-centuryBordeaux and the creationof its banlieue(Bochaca, 1997; 1998) or othercities with a vignobliumas equiv- alentof a territorium(Le Goff,1998: 238-39). Since thecountryside was subordinatedto the city-statein a hierarchicaldivision of labor betweentown and countryside,and the city-stateenforced a virtualmonopoly position regarding the distribution of goods to the urban and rural population alike (Stabel, 1992: 352), the rural industrieswere more complementarythan competitive with the urban ones. Oftenundesirable work such as tanningwas performedin thecountryside because of the"annoying smells and pollution generatedby the process" (Kowaleski, 1995: 160). At thesame timeone should consider to what extentthe so-calledupper class buitenpoorterijor bourgeoisieforaine, those who migratedfrom the city-while retainingtheir citizenship- to the countryside,strength- ened (juridically,socioeconomically, and politically)the control of the cityover its surroundinghinterland (Thoen, 1988a: 448-49; 1988b: 480-90; Boone, 1996a: 715-25) and to whatextent similarly the "landowningrural membership of an urbanguild linked the townwith the politicallife of its hinterland"(Carpenter, 1997: 63).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 266 EricMielants issue of wages (Epstein 1991a: 116; Prevenier,1998: 83; Munro, 1979: 111) because of relativelyhigh inflation, but also on abuses such as truck.78Occasionally, the protesteven took the formof vague socialistand communistaspirations, as whenthe weavers and fullersof Valenciennesin 1225 deposed thegovernment, despoiled theplutocrats, and declareda commune(Carus-Wilson, 1952: 399).79 Accordingto Pirenne,virtually a revolutionaryclimate came into beingin thefourteenth century (1939: 226-45). Because ofits inter- connectionthrough trade, Flemishradical doctrinesspread and influencedWatt Tyler'smovement in England at the end of the fourteenthcentury (Pirenne, 1947: 199). Althoughsome of Piren- ne's writingswere meticulously questioned in thelast twenty years,80 it is hardto denythe significance of social striferelated to livingand workingconditions in the Middle Ages.81The revoltof the Ciompi in Florenceis probablythe mostrenowned example that revealed

78 Cf. Boone 8c Brand (1993: 184), Yante (1990: 372), Boone, Brand 8c Prevenier (1993: 73), Rosser (1997: 27) but also Holbach (1993: 229) and thecited literature there. 79 The most violent turbulenceoccurred in the townswhich were economically advanced: Douai in 1245, Arrasin 1253, Genoa in 1258 and 1276, Siena in 1257, Ypres in 1280, Viterboin 1281, Bologna in 1289, Florencein 1293-95, all located in Flanders and northernItaly (Mackenney, 1987: 2; Pirenne,1963: 94-109). 80 E.g., Despy 8cVerhulst (1986); Verhulst(1989b). 81 Britnellpoints out that,as faras medievalEngland was concerned,one should reject the suppositionthat standards of livingimproved for the whole popu- lationbetween 1180 and 1330 . . . thesubdivisions of holdings and competition foremployment pushed livingstandards downwards for the poorest families. Piece rates deterioratedduring the period of commercialgrowth between about 1270 and 1320 [while]the merchantclass was larger and wealthierin 1330 than in 1180 (1993: 125-26). This is preciselywhat occurs in the capitalistworld-economy on a globalscale today: the standard of livingof a minority(located in the core) increases,while the majorityis facingmore povertyand deprivationin theperiphery. This is of course no coincidence. In 1100-1350 parts of England were peripheralto aie core of the urban nexus in the Low Countries.Some scholarseven define it outrightas an economic colony(Rosenberg & Birdzell,1986: 76; Cazel, 1966: 110). It was onlyafter import substitution took place in the late fourteenthcentury that textileproduction for the internationalmarket increasedwhile it gradually decreased exportingwool (Gutmann,1988: 36). The factthat up to the mid-fourteenthcentury some Englishregions were peripheralrelative to the Low Countries, of course does not mean there was no substantialand successful entrepreneurialmiddle class,as we can findit in eighteenth-centuryBrazil or twentieth- centuryColombia. From theearly fifteenth century onwards, the urban core of the Low Countries turned to Spain to extractraw materials(wool) for its industries,with profoundimplications for the latter'ssocioeconomic development:in Castile alone 1.5 millionsheep have been estimatedto produce wool c. 1350, whileone centurylater the numberwas 2.7 million(Favier, 1996: 181).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions ORIGINS OF MERCHANT CAPITALISM IN EUROPE 267 quite well thepresence of deep social and politicalgrievances (e.g., Hay & Law, 1989: 249-51; Stella, 1993). The popular elementin these revoltsis undeniable(Mollat 8c Wolff,1973: 7). Clearlythe cities'dependence on themarket for textiles made themvulnerable forsocial unrest, especially given the "unbending interests of exploit- ativecapitalism" (Mackenney, 1987: 29). For Lestocquoy(1952: 131- 37) thesocial strugglesand the"egalitarian social visions" (Howell & Boone, 1996: 322) which emergedin the second half of the thirteenthcentury, even seem to resemblethese of the period 1830- 1848.82In essence,the medieval working class was a readilyavailable pool of oftenseasonal extralabor, exploitedwhen seen fit.This reservelabor pool was also increasedby childlabor: "Journeymen workedin shops thathad a numberof boys or girls[working] for meals and a place to sleep at night.These childrenserved also to remindthe journeymen that they had competitionfor work, especiallyin theunskilled trades" (Epstein, 1991a: 120).83Needless to say, not all productionsites were reallocatedto the countrysidesince urbanlocations also offeredadvantages such as bettercoordination and supervisionof specializedlabor required for high quality luxury cloth,urban financing(Munro, 1990: 45), and lower transaction costs if the textileswere made in an entrepotlike Bruges,84which had directlinks to theinternational market. The internationalcom- petitionwas veryreal indeed since it ultimatelyinduced the urban textilecenters to shifttheir production of lowerquality bulk goods

82 Concerning the problem of the existingsocial strugglein the medieval ages, Jacques Heers (1963: 315) warns us not to interpretwarring party factions with the expressionof social classes. Furthermore,classes do not have a permanentreality: thus, like all other social constructs,the emerging"bourgeoisie" should not be treatedas a staticphenomenon, but as a designationof a class in theprocess of perpetualre-creation and hence of constantchange of formand composition(Wallerstein, 1979: 224, 286). Despite thefact that social strifein theMiddle Ages cannotbe simplifiedto class warfare between the proletariatand the bourgeoisie as if theywere two homogenous entities (Prevenier,1988: 57), and thatworkers did not perceivethemselves solely in functionof "social and economic distinctions"(Rosser, 1997), it is undeniable thatdie social issue, symbolizedby serioustensions between the lower and highersocial stratawas extremely important(Jordan, 1998: 132-33), since ttthedependence of cityeconomies to internationalmarkets made theirstability sensitive to externaldisturbances'* (Britnell, 1991: 29). 85 Althoughmany children performed low skilledwork in thetextile industry, as they wereeasily exploitable, many women- althoughthis was not absolute-werealso relegated to thebottom of theoccupational hierarchy. For thecomplex sexual divisionof labor in the medievalLow Countries,cf. Howell (1997) and Kowaleski(1995: 153-54). 84 Brugesproduced clothfor export and was as an entrepot/gatewaycity crucial for the internationaltrade flowinto the Flemishurban network(Stabel, 1995, 1997).

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 268 EricMielants towardsmore exclusiveluxury goods for whichdemand was less elastic,while the countrysideoften took over the role of producing lower-qualityproducts (e.g., Stabel, 1997: 144; Abraham-Thisse, 1993b: 172-73). However,the question remains to whatextent "the internationalurban network" (Bartlett, 1993: 176) in thefourteenth centurywas a trulyintegrated one (Stabel,1997: 72), althoughtraces of a certain"inter-urban specialization" can alreadybe found(Wee, 1975: 205). Regionaleconomies were certainly interconnected (e.g., Masschaele, 1997; Kowaleski,1995; Wolff,1995: 65) and internationaltrade was becomingmore importantas well,85but it remains to be exploredto what degree the economiesof scale and economic differentiationin the Middle Ages have had a considerableimpact on unevenregional development in thelong run (e.g., Ashtor, 1983: 375-433 or Mokyr,1990: 44; cf. also the criticaltone of Abulafia [1997: 36-39] or Galloway[1977]). Nevertheless,exploring the long- termimpact of theintercity-state system on theevolution of western Europeanhistory is a necessaryendeavor. The medievalcity with "its division of labor and its impulses on the monetaryeconomy, broughtabout a fermentationprocess in thefeudal mode ofproduction thatdestroyed it in thelong run"(Le Goff,1998b: 15). There- foreit has to be understoodas a crucialvariable in the long-term historyof westernEurope.86

85 Justone exampleis theEnglish wool produced forthe textile industries in theLow Countriesand the Lombard towns.

By c. 1300 lords in the London region were sellingapproximately half of net demesne productionand the factthat by thisdate moneyrents exceeded rents in kind suggeststhat peasants were not backwardin sellingmuch of whatthey produced. To take a single commodity:by the opening of the fourteenth centurylords and peasants were directlyor indirectlyselling abroad the wool of over seven millionsheep (Campbell, 1995c: 553). Even in 1273, when the vogue of [English]wool had hardlybegun, 44 Italian merchantsin England exported8000 sacks(about 1325 tons);but thisamount was sufficientfor the manufactureof only24,000 pieces of cloths-a verysmall percentageof thetotal of Italianproduction. In thefollowing years the demand forEnglish wool increased(Lopez, 1952: 329); cf. also Lloyd (1977). It has to be emphasizedthat the western European city-statesdid not onlyhave to import theirfoodstuffs from increasingly great distances, but thatthe urban industries also often depended on long distance trade which procured them withvital "supplies of wool, cotton,silk, alum and dyestuffs"(Britnell, 1991: 29). 86 Referringto an intercity-statesystem, I do not wishto downplaythe importance of the countrysidein the Middle Ages. Afterall, most Europeans lived there.Yet "the

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CONCLUSION(S)

The politicalsystem of city-stateshad a crucialimpact on the long-termsocioeconomic processes which occurred in Europe in thatit enabled capitalismto survive,to grow,and ultimatelyto ex- pand into a capitalistworld-economy. Policies and techniquesof dominationand exploitationwhich had been implementedand experimentedwith by the eliteswithin the medievalEuropean city- statesystem were used by the elitesof nation-statesduring the sixteenth-seventeenthcenturies to foster the ceaseless accumulation of capital. Furthercomparative research between European regions and non-Europeanregions (China, India,Japan) will bringabout newinsights on how socioeconomichistory was profoundlyaffected by differentpolitical systems. One shouldalso highlightthe impact of medievalnon-Europe on Europe to avoidEurocentrist biases as if medievaldevelopment in Europewas nothingbut auto-development (e.g., Delatouche, 1989: 26), whileat the same timeone has to be somewhatEurocentric so one can attemptto pin down certainEuro- pean specifics87which contributedto a qualitativeshift on the Europeancontinent in theperiod 1000 ADup to 1500 AD.Of course, thisdoes notimply that other regions were less successfulin trade, wagingwar, or achievingtechnological innovations in the Middle Ages. Nor is it a valuejudgment about othercivilizations. It does mean thatonly the convergenceof bothinternal and external(thus relational)developments can provide a sound analyticalbasis to explain whyand how featuresof capitalism(which subsequently spread out over the world) came into being in certainparts of Europe (or westernAsia; itis onlyfor hermeneutic convenience that I maintainthe usage ofthe word Europe). I do notchallenge the fact thatafter 1500 thecapitalist logic intensified because ofthe "the great modernizationof the commercialinfrastructure was onlypossible afterthe emergence of European citieswho createdever more, new and optimalconditions for an increase of productivityand thusallowed successiveseries of increasinggrowth" (Wee, 1981: 14). Citiesare keyto the"international commerce [which] had become an extremelydynamic sector,of a vitalimportance to the growthof the European economy"(Wee, 1981: 10) so theycan be accuratelylabeled as the "nodes of capitalism"(Rosenberg & Birdzell, 1986: 47). Much of the socioeconomic changes occurringin the countrysidewere after all "fueledby urban demand [which]stimulated an intensiveand highlycommercialized agriculture"(Yun, 1994: 116; Menant,1993: 293). 8/ As a consequence, the historicalevolution of Europe cannot be copied in the Third World as some modernizationtheorists would argue.

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 270 EricMielants maritimediscoveries" (See, 1928:41 J88 and thesubsequent increased profitsfrom trade and exploitationcoming out of non-Europeto Europe and westernAsia,89 nor am I denyingthe emergenceof an interstatesystem after 1500 or theshifts between different hegemo- nies (e.g.,Arrighi, 1994). How thencan one acceptgeneral concepts ofWSA, and also explainthe emergence of capitalismin theMiddle Ages?90If one acceptsthat merchant capitalism was already maturing in Europe priorto the "long"sixteenth century, the development of a trulyworld (encompassing)-systemafter 1492 is not empirically challenged.What needs to be rethoughtand exploredis the emergence of capitalismin medievalEurope beforeit expanded into a worldcapitalist economy: exploitation of wage labor,class struggle, reallocationof capital,the exploitationof a peripheralcountryside by an (urban) core, substitutionof labor power by technological inventions(e.g., wind millsand watermills) in order to minimize labor costsand furtherthe endless accumulation of capital, the corn- modificationof the materialworld, and the rationalizationof the spiritualworld, in short,modern features of contemporarycapital- ism,found their very roots in theMiddle Ages: aas thehigh Middle Ages unfoldedEuropean societiesexperienced impressive rates of economic growthin termsof real GDP per capita" (Snooks, 1996: 305). And it was preciselywithin the urban nexus of medievalwest- ern Europe that economic "self-sustainedgrowth" was realized

88 The linkbetween world accumulation in thesixteenth century and capitalaccumulation prior to the sixteenthcentury has been acknowledgedby Frank:uLa production et la concentrationd'un capital marchandfondé sur la production dans les cités itali- ennes étaient essentiellespour réaliser les voyages de découverte et créer pour la premièrefois un commerce mondialattirant et réalisable"(1977: 32). The question is: how did these featuresof capitalismappear in medieval(Italian) city-states? 89It is dear thatafter 1492

the combined output of centralEuropean and Americanmines supplied the treasuriesof westernEurope with large quantitiesof precious metals. The accumulated resources induced them to increase theircommercial activities withthe East. In the course of time,the influxof silver,coupled withthe high value placed on thisspecie in the East, enabled Europeans to monopolize the tradeof Asiaticcountries and subordinatetheir economies, thereby laying the foundationsof European domination and colonialism in the region. This dominationultimately enabled theEuropeans to [channel]wealth and resources fromevery corner of thatcontinent back to Europe (Bozorgnia, 1998: 180). 90 Withoutusing an extremeform of holismthat Andre Gunder Frank'spost-1990 researchembodies.

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(Uytven,1987: 127).91But recurringgrowth was not an isolated phenomenonlocated within a city-stateand itscountryside: the presence of a largenumber of industrialactivities throughout the whole urban nexus fromsouthern England, the Low Countries,parts of France and Germany,and northernItaly, such as mining,textile production,glass making, shipbuilding, etc., enhanced "substantially thedemand for both foodstuffs and land" (Hatcher,1969: 217) and therebycreated the possibilityfor a deepening of inter-regional tradenetworks.92 To claim thatwestern Europe managedto create some kind of take-offdue to its internalfeatures would be, of course,a grossexaggeration since the growth of its urban economies cannotbe properlyunderstood without capturing the vitalimportance of the internationallong-distance trade between Europe and non-Europe,as Abu-Lughod(1989) pointed out,93nor can one

91 For Blockmansthe eleventhcentury is the keymoment in historywhich brings about recurringgrowth: Le Xle siècle donna un nouveau visage à l'Europe et mit en branche un dynamique qui ne futplus interrompueet qui continue à se manifesterau- jourd'hui à l'échelle mondiale. La croissanceà long termede la productionet de la population,ainsi que la formationd'Etats et le développementd'une éco- nomie de marché capitaliste,ont pris leurs départ à cette époque. Ces évolu- tions eurent lieu plus tôt dans certainesrégions que dans d'autres, mais de tellesrégions donnèrent le ton. La stagnationet la régressions'affirmèrent ici et là, mais la dynamiquedes systèmesresta effective à long termeet l'est encore aujourd'hui (1997: 30). In his magnumopus on the longuedurée in Europe, Blockmanspresents convincing evidence. What is, however,very problematic is his Eurocentrism:in dealing withten centuriesof European history,Blockmans pays hardlyany attentionat all to other civili- zationsor even the issue of colonization,which he legitimizesby statingthat "si l'on fait exception du rayonnementde la science arabe en Espagne méridionale et en Sicile durantle Moyen Age, les influencesextérieures subies par l'Europe ne sont devenues décisivesqu'au XXe siècle" (1997: 30). A quite extremeinternalist position of the Euro- pean miraclein the late 1990's. 92 The example which Hatchter (1969) gives for medieval ports in the west of Englandis quite illuminating:precisely because of theirintegration into a widerregional economy (as is illustratedby theirrelative diversified economies), theyseem to "have weatheredthe economic storms"(1969: 226) of the postplagueperiod much better. 95 It is no coincidencethat because ofthe Pax Mongolicaover the Eurasian landmass, themarket expanded forthe western European city-states,and subsequentlythe division of labor in most of theirindustries increased c. 1250-1350 (Balard, 1983). Only when tradeacross Eurasiabecame moredifficult after the disintegration of thePax Mongolica, did the Europeans considerto reviveattempts to circumnavigatethe African continent (Richard, 1970: 363). A major problem withAbu-Lughod's (1989) studyis the entire omissionof Africa- with the notable exception of Egypt- in thethirteenth and fourteenth centuries.African gold, transportedacross theSahara and Morocco,was veryimportant

This content downloaded on Thu, 14 Mar 2013 08:42:54 AM All use subject to JSTOR Terms and Conditions 272 EricMielants separatethe ceaselessaccumulation of capitalin the core fromthe creationof multipleperipheries (colonial or neocolonial overseas territoriesproviding cheap labor, raw materials,and markets).Al- though"economists generally loathe contemplating the uses of vio- lence in the economicsphere [and] thereseems to be a feelingthat it cannot be a 'true' or 'fundamental*basis forany sustainedeco- nomicgain" (Findlay, 1992: 159) suchas recurringgrowth, the historical realityof capitalism proves otherwise.94 As I demonstrated,modernization theory, Marxism, "Brenner- ism," and WSA all have certainproblems with the emergenceof capitalismin the medievalperiod. A recurrenttheme is the back- wardnessof the Middle Ages: an artisan,rigid, stagnant economy witha feudalsystem in crisiswaiting only to be sweptaway by the modernera/modernity under the cloak of capitalism.Hence often the artificialconstruction of an easy and misleadingdichotomy: a feudalversus a capitalistera (Heers, 1992: 35-36). Unfortunately, the"distinction between medieval and moderntimes, entrenched in pedagogicaltradition since the dawn of formalhistory teaching," as Britnell(1998: 113) puts it, is stillvery much alive. Instead,one should attemptto look at the Middle Ages withoutprejudices and see to whatextent, why, and how embryonicforms and featuresof capitalismcame intobeing, matured, and werecapable oftransform- ing themselves,while expanding and intensifyingin the "long"

forthe European economy:since silver was massivelytransported to theFar East because of a structuraltrade deficit, gold became "theprime metal for international transactions, whethercommercial or political,and indeed forall considerablepayments ... in thelast centuryand a halfof theMiddle Ages mostcountries of western Europe had an adequate stockof gold currency,however debased and howeverdiminished their silver currency mightbe" (Spufford,1988: 283-87). Cf. also Phillips:"the attraction of NorthAfrica for European merchantsarose fromsuch bulkyitems as highgrade merinowool and grain, but above all fromgold bullion [which]was of greatimportance to the developmentof the medievalEuropean economy**(1998: 140), but, of course, also of greatimportance forthe Islamic economies (Watson,1967; Bozorgnia,1998: 83-85, and 121-41). Last but not least, the interestin gold and slaveswas crucialto the Portuguese/Genoeseefforts of bypassing the Muslim intermediariesand explore Africain the fifteenthcentury (Phillips,1985: 135-36; Favier,1996: 198-99; Scammell,1981: 164). 94 Classical trade theoryis utterlydivorced from the historicalrealities of slaveships and silverargosies. The internationaldivision of labor did not resultfrom the operation of the law of comparativecosts because the world's tradingnations were neverequal partners.On the contrary,it was centuriesof unequal exchange that created a "chainof subordination" and led to thedivision of theplanet into developed and underdeveloped regions(Day, 1999: 114. Italicsadded).

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sixteenthcentury. Last but not least,I hope we can go beyondthe limitedfocus of usingthe nation-state as theexclusive unit of analysis in order to explain the "transition."Only thenwill we be able betterto comprehendthe complex essential features of the capitalist world-economyin whichwe livetoday.

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