Merchant capitalism is a term used by economic historians to refer to the earliest phase in the development of capitalism as an economy and social system. The earliest stages of merchant capitalism were developed in the medieval Islamic world from the 9th century, and in medieval Europe from the 12th century. In Europe, merchant capitalism became a significant economic force in the 16th century, depending on point of view.

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  • Merchant capitalism is a term used by economic historians to refer to the earliest phase in the development of capitalism as an economy and social system. The earliest stages of merchant capitalism were developed in the medieval Islamic world from the 9th century, and in medieval Europe from the 12th century. In Europe, merchant capitalism became a significant economic force in the 16th century, depending on point of view. The mercantile era drew to a close around 1800, giving way to industrial capitalism. Merchant capitalism was mostly not based on industrialization and the factory system, but on merchant houses backed by financiers acting as intermediaries between simple commodity producers. Thus, merchant capitalism preceded the capitalist mode of production as a form of capital accumulation. The transformation of merchant capitalism into industrial capitalism involved, according to Karl Marx, a process of primitive accumulation of capital, resulting in a rapid expansion of industrial wage labor.
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  • Merchant capitalism is a term used by economic historians to refer to the earliest phase in the development of capitalism as an economy and social system. The earliest stages of merchant capitalism were developed in the medieval Islamic world from the 9th century, and in medieval Europe from the 12th century. In Europe, merchant capitalism became a significant economic force in the 16th century, depending on point of view.
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  • Merchant capitalism
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