by The Renaissance Theorist of the Ethical Merchant
This nomination for Benedetto Cotrugli, the Ragusan merchant whose 1458 manuscript “Della Mercatura e del Mercante Perfetto” (On Commerce and the Perfect Merchant) is the earliest known Italian treatise to describe double-entry bookkeeping and to articulate a comprehensive philosophy of business ethics. Written decades before Pacioli’s more famous work, Cotrugli’s book advocated for meticulous accounting, transparency with partners, and the moral integrity of the merchant. He argued that success in commerce required not only skill and capital but also virtues like prudence, justice, and fortitude. His work represents the intellectual elevation of the merchant’s profession during the Renaissance, framing it as a noble and ethical calling rather than a mere pursuit of profit. Cotrugli proved that business practice benefits from theoretical reflection, and that sustainable commercial success is built on a foundation of ethical conduct and systematic record-keeping, establishing a moral framework for the emerging capitalist ethos.
