meaning of commercialism
Traders and artisans formed their unions in the Middle Ages. These associations contributed significantly to the development of trade and artisans. But in the modern era, due to national states, the usefulness of the federations ended. Hence the need to end it was felt.
This need gave birth to a new economic policy or theory which is popularly known as ‘commercialism’. The essence of this theory was that in order to increase the wealth and power of the state, the government should regulate the activities of trade, industry, etc. In the words of Francis Bacon, the main objective of commercialism was “Promoting trade and its proper balance, Promoting the production of commercial goods, Exclusion of vanity and idleness, Prevention of wastage and excess by appropriate laws, Improvement of land and good agriculture on it, to regulate.”
In the sixteenth and seventeenth centuries, commercialism flourished especially in countries like England, France, Italy, Spain, Scotland, Russia etc. Although the commercial system of each country had its own characteristics due to local conditions and needs, its basic principles were the same everywhere.
There is a difference of opinion among scholars about when commercialism emerged. Alexander Gray says that commercialism in its rough form had begun in the fourteenth century or in the first phase of the fifteenth. But the actual rise of commercialism occurred only in the sixteenth century, and the tax was abolished in the middle of the eighteenth century.
Rise of Commercialism Causes of Revolution
(1) Rise of National States
As it has been said earlier that the Rashtriya Uday has ended the usefulness of the already existing business unions. As the system was a hindrance in the path of national integration, similarly it started hindering the economic development of traders and artisans. Like the feudal lords, the attitude of the sanghas was local. When national states were established, naturally the whole nation became an economic unit, so it was necessary that even in trade and industry, leaving its narrow local and taking a national form. In other words, the necessity was that trade handicrafts should be carried out for the whole nation and their organization and operation should be done at the national level. This need gave rise to a new economic policy or theory which is known as Union National Commercialism.
Renaissance was also an important reason for the commercial revolution. Due to the Renaissance, there was a special progress of trade in Europe, the rise of new cities and the power and influence of the merchant class began to increase. The power of thought of those who used to do business. They develop, they travel, they come in contact with different types of people, they think and understand and their mental power increases. For all these reasons the people of Europe. I began to have a curiosity to understand things, to investigate them, to ask questions and to discover the reality of the world. Now he began to break the chains of mental slavery and intellectual courage grew in him. This led to the commercial revolution in Europe.
(3) Religious Reform Movement
The king’s power increased as a result of the religious reform movement. There was a change in the balance of social groups. The influence of church officials decreased and the importance of the common man increased. The significant economic impact of the Reformation Movement was greatest on England. Due to the abolition of the monasteries, their immense wealth became the right to rule. In this way the state got immense wealth. This property was used for the economic development of the state. This brought a revolutionary change in trade. There was great progress in the trade of country and abroad. Thus the religious-reform movement itself intensified in the commercial revolution.
(4) Political reasons
During this period the power of the Pope was relieved and autocratic monarchies were established. The state became sovereign. He made the whole state into an economic unit to start over the fallen condition of the state. The traders realized that the income of the state could be increased through trade. Therefore, the government gave to the business of the state and put all the power in its growth. This led to the discovery of new countries and foreign trade.
Got encouragement. As a result, the commercial revolution intensified.
meaning of commercialism
(5) Economic condition of Europe
The economic condition of Europe of that period gave birth to the Bhava revolution. In Europe and America, currency was introduced as a result of the discovery of gold and silver. Gold and silver coins were made. In place of money-exchange, there was money-exchange. This brought a revolutionary change in both internal and external trade.
Due to the discovery of new countries, foreign trade increased, in Europe the emphasis was on producing more in industries. The countries of Europe started sending their goods abroad. From this he made a huge profit. He made money a means of accumulation. Due to this the merchants, industrialists became even more wealthy and the income of the state also increased. These circumstances gave birth to the commercial revolution.
meaning of commercialism
(6) Contribution of commercialist thinkers
Many thinkers made great contribution in the development of commercialism. In this the contribution of Sir Thomas Mann (1571-1641 AD) was important. Sir Thomas Mann was a famous British writer and businessman. He wrote a book titled “England Tazar by Foreign Trade”, in which he gave a detailed explanation of commercialism. In this book, he has written that for his prosperity, the policy of least import and maximum export should be followed. He insisted on imposing higher taxes on imported goods. He termed excessive accumulation of money as unfair as it adversely affects the business. The second thinker was Antonia Cera (1580–1650), who promoted commercialism. He was an Italian thinker. He has written that in agriculture the profit remains uncertain due to the uncertainty of the weather, whereas in industries the law of growth applies. Therefore, more attention should be paid to the growth of industries. The third thinker was Jean-Baptiste Colbert (1580–1650 AD). He was a resident of France. He was also the Finance Minister of France. He made an important contribution to the development of commercialism. In France, commercialism came to be called ‘Colbert’ after him. Fourth, Sir William Petty happened to be a famous thinker. He is considered the founder of statistical method. First of all, he used numerical in the economy.