The commercial or merchant capitalism is considered precapitalism since it represented the first stage of the capitalist economic system.
It arises at the end of the 15th century, marking the end of the Middle Ages and the beginning of the Modern Age, which lasted until the 18th century, when the Industrial Revolution emerged.
Commercial capitalism was used in the colonies of America, Africa and Asia, from where the metropolis sought wealth and products in the new lands, increasingly intensifying trade relations.
Phases of capitalism
Capitalism has accompanied the development of society and is divided into three phases:
- Commercial or Mercantile Capitalism (pre-capitalism) – from the 15th to the 18th century
- Industrial Capitalism or Industrialism – 18th and 19th centuries
- Financial or Monopoly Capitalism – from the 20th century
Characteristics of commercial or mercantile capitalism
The main characteristics of commercial capitalism are:
- Emergence of currency as exchange value
- Manufacturing production
- International Division of Labor
- Mercantilism as an economic system
- Favorable trade balance (surplus)
- Protectionism (customs duties)
- Metallism (accumulation of precious metals)
Historical context: summary
The Middle Ages were a long period that lasted from the 5th to the 15th century in Europe. In this period, capitalism did not yet exist, the feudal system being the regulator of the social, cultural, economic and political relations of the period.
Based on land tenure, feudalism featured two major social groups: the feudal lords, owners of the lands who obtained absolute powers over them, and the serfs, the individuals who worked in the feuds.
This type of society is known as a state society (divided into estates), where social mobility was practically non-existent. That is, if a person was born noble, he would die noble, or if he was born a servant, he would live until the end of his life in these conditions.
Above the feudal lords were the Kings and the Church, therefore, the lords were subjected to their wishes and paid taxes to them, however, they possessed all kinds of power (political, economic, social) in their lands.
However, with the commercial maritime expansion, the exploration of new lands, the development of commerce (driven by open markets around the boroughs), the increase in population and the emergence of a new social class (bourgeoisie) would definitely transform this feudal scenario.
It was during this period that the Portuguese found Brazil, whose products extracted from the colony were commercialized by the metropolis. In other words, while the colony exported raw materials, the metropolises produced and sold the goods.
The economic, social and political interests of the emerging new class, the bourgeoisie, led to the decline of the feudal system, which sought enrichment through the accumulation of precious metals, one of the main characteristics of the economic system of mercantilism, called “metalism” .
It was in this way that the commercial capitalist system emerged, aiming mainly at profit on traded goods, mediated by an economy centered on commercial exchanges with the increase of customs fees (protectionism) and the search for surplus (favorable trade balance).
Thus, commercial or mercantile capitalism was strengthened through exchanges and sales of slaves, manufactures, precious metals, sales of spices and agricultural products.
This was decisive for the formation of the capitalist mode of production .