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Early Forms Of Capitalism

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Capitalism was encouraged and created under the influence of three Papal Bulls, the Bull Dum Diversas (1452), the Bull Romanus Pontifex (1455), and the Bull Inter Caetera (1493). Rules and policies introduced by these edicts formed the foundation of early forms of Capitalism (eg. Mercantilism), and established a mindset that we today refer to as the 'Doctrine of Discovery', a set of rules and principles that guided the discovery of non-Christian lands by the Christian world. This Doctrine set the standard for how the discovery of new lands and peoples was handled and continues to do so to this day, as evidenced by America's propensity for extreme protectionism.

The Bull Dum Diversas granted Christian monarchs permission "to invade, conquer, fight, subjugate the Saracens [Muslims] and pagans, and other infidels and other enemies of Christ...and to lead their persons in perpetual servitude" (Dum Diversas). This exploitation of native peoples was …show more content…

Similar to it's later derivative, Mercantilism relied on privately owned land, labor, and management, under the rule of a single individual in control of their own capital. The main goal of Mercantilism is profit by trade, hence the word 'mercant' (Catalan for merchant) embedded in the word. The discovery and colonization of new lands provided the perfect environment for Mercantilism to flourish. Large influxes of raw materials allowed for rapid economic growth, and a captive marketplace kept the majority of the progress focused inwards. An example of one such market can be found in England in 1651 and 1660. "'The Navigation Acts'...severely restricted the ability of other nations to trade between England and its colonies."(“What was mercantilism?” The Economist, August 23, 2013) The 'Doctrine of Discovery' enacted by the edicts of the Pope encouraged the spread and growth of Mercantilism, and also affected its evolution towards the Capitalism we know

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