Since the pioneer writings of Weber and Sombart, the debate on the nexus between accounting and the rise of capitalism has caused a lot of ink to flow. Literature on the subject has focused on assessing the capacity of the double-entry form to promote “rational” decision-making based on profit calculation. While the classical approach, drawing on Weber and Sombart’s […]
… it may please your worships to understand, that the chiefest living and maintenance that we have is upon the commissions that are sent unto us of our friends from beyond the seas…
— Italian merchants explaining their foreign exchanges to Sir Thomas Gresham and other royal commissioners [Ms. of Lord Calthorpe, Vol XX, f. 28].
Most of today’s banks […]