The Medieval Origins of Capitalism in the Netherlands

Large parts of the Netherlands saw an early rise in market traffic during the late Middle Ages already. Exchange via the market became the dominant form not only for goods, but also for land, labour and capital, and this during the course of the sixteenth century already. This contribution investigates why it should be that the market form of exchange arose so early here specifically; how markets were organised as institutions and how they functioned. It will be demonstrated that the markets here had a favourable organisation, with low transaction costs, a high level of integration of the mark... Mehr ...