The History of Business Term Paper by Nicky

An overview of the developments in economic systems, from feudalism until the capitalism of today.
# 145622 | 1,915 words | 5 sources | APA | 2010 | US
Published on Nov 18, 2010 in History (General) , Business (General) , Economics (General)

$19.95 Buy and instantly download this paper now


The paper offers insight into how the feudal system of government in the Middle Ages worked, and how this developed into the age of mercantilism in the 'early modern period'. The paper explains the basic mercantilist concepts and then looks at the economic structure of capitalism. The paper explores the concepts of commerce and property rights and devotes time to the Industrial Revolution. The paper comes to the conclusion that the history of business is one of progress in terms of political sophistication and individual liberty.

Property Rights
The Industrial Revolution

From the Paper:

"When Europe entered the Middle Ages, the feudal system of government was already becoming widespread, according to Francois Louis Ganshof and Philip Grierson (1996) in Gaul under the rule of the Merovingians (Ganshof and Grierson, 1996). It was the practice at that place and time for the sons of a king to split his wealth and lands upon his death, rather than the rule of primogenitor (inheritance by the first-born, usually the first-born son) that we tend to think of being associated with monarchies. This led to a lot of fighting between siblings and their various factions. Order largely broke down and the governments of the time were too new, weak, and ineffectual to stop chaos from reigning. Those who could afford to, then, began to amass bodies of retainers--men who became attached to them as part of a larger group for the sake of protection and personal (ostensibly collective) gain (Ganshof and Grierson, 1996)."

Sample of Sources Used:

  • Bottomore, T.B. (1991). A dictionary of Marxist thought. Malden, MA: Blackwell Publishing.
  • Ganshof, F.L. & Grierson, P. (1996). Feudalism. New York: Harper & Rowe.
  • Hudson, P. (2004). The industrial revolution. New York: Oxford University Press.
  • Magnusson, L. (1995). Mercantilism. London: Routledge.
  • Smith, A. (1776). The Wealth of Nations. Viewed online at the Library of Economics and Liberty. Retrieved 11 December 2009. <>

Cite this Term Paper:

APA Format

The History of Business (2010, November 18) Retrieved August 13, 2022, from

MLA Format

"The History of Business" 18 November 2010. Web. 13 August. 2022. <>