Beginnings of Business: A History of Early Trade

Undergraduate

When did trade begin? When did business go global? How has the organization of commerce changed through time? What are our fundamental financial instruments and how and in what order where they developed? Are there fundamental rules behind the way in which humans conduct business? What roles have states and institutions historically played in facilitating or restricting trade? What sources and approaches are available to study trade in pre-modern times? Can business innovations from the past help us think about business in the present? To explore all these questions, this class draws upon data and case-studies drawn broadly from the ancient world but with focus on evidence from ancient Mesopotamia. With the benefit of a giant canvas of history we paint a detailed picture of how business developed through time. We look at examples where business was strictly regulated by state-controlled institutions as well as examples entrepreneurs would have to rely on informal enforcement mechanisms, such as kin-relationships and reputation in repeated interactions. We dive into the effects of shock on individuals and systems – from production shortages to pandemics. And we ask what happens when systems collapse, or value becomes immeasurable (as people have claimed for the 2008 crash). We study family-controlled business groups as an alternative to integrated and professionally managed corporations. And we observe how entrepreneurs adapted to face the financial challenges of states and dawning globalization. This course immerses students in the history of trade and draws on guests from widely different fields and disciplines to showcase the variety of approaches with which scholars address questions of business history. HU , SO TTh 11:35am-12:50pm