Dokuz Eylül Üniversitesi Sosyal Bilimler Enstitüsü Dergisi (Apr 2011)
Reform Çağı Öncesi Avrupa’sında Ussal Ekonomik Etkinliğin Belirtileri (The Marks of Rational Action in Europe before the Reformation Era)
Abstract
The great discoveries, the opening of new routes and the abandoning of old ones, the Atlantic replacing the Mediterranean, the volume of precious metal imported from the New World, all of them were caused the commercial revolution. The fifteenth century of the business opportunities for the investment were enormously increased; loans for all kinds, marine insurance, shares in public and private debts, part ownership of ships and different companies. Also large towns have a real exchange of transferable bonds. The great merchant, therefore invests a little of his money everywhere, not necessarily taking part in the administration of his business, but waiting for his distribution of profits. The price rise, which began in Spain, overran Italy, then France, where it reached a peak in England. The price revolution occurred as a result of the increasing stock of monetary metals. But the canon lawyers and the church preachers were declared that; one man’s gain in trading must always be another’s loss, so not everyone that sells at higher price than he bought as a trader, by this reason, all commercial gains must be equal to the exertions of the merchant. The church defended private wealth and allowed the merchant a fair return for his labour; but the immoderate quest for riches was sin. And to take usury for money lent is unjust in itself, because this is to sell what does not exist, and this evidently leads to inequality which is contrary to justice.
