The Rise and Fall of a Lisbon Family Business, 1710-1773: The Case of the House of Torres
Autor(a) principal: | |
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Data de Publicação: | 2019 |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10174/28243 |
Resumo: | By weaving the political economy of the Portuguese empire into business history, this article highlights the role of metropolitan and colonial tax farming in the rise and fall of an elite that dominated the business scene in both mainland Portugal and colonial Brazil between roughly 1730 and 1760. It takes the Torres family business as a case study and argues that, while tax farming undoubtedly represented an opportunity to accumulate private wealth, it was also a risky business. Adding to the irregularity of fiscal income, tax farming imposed strict rules on tax farmers, deriving from the legal framework for public finance, while the Crown’s policy of seeking to maximize revenue through competitive bidding also increased the risks to which they were exposed. While being highly concentrated on tax farming in Portugal and the South Atlantic empire allowed the Torres family business to amass extraordinary wealth, it also proportionately increased the firm’s exposure to those risks, which were then further compounded by a succession problem that eventually led to its demise. |
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The Rise and Fall of a Lisbon Family Business, 1710-1773: The Case of the House of Torrestax farmingcolonial Brazilpolitical economylegal frameworkpublic financeBy weaving the political economy of the Portuguese empire into business history, this article highlights the role of metropolitan and colonial tax farming in the rise and fall of an elite that dominated the business scene in both mainland Portugal and colonial Brazil between roughly 1730 and 1760. It takes the Torres family business as a case study and argues that, while tax farming undoubtedly represented an opportunity to accumulate private wealth, it was also a risky business. Adding to the irregularity of fiscal income, tax farming imposed strict rules on tax farmers, deriving from the legal framework for public finance, while the Crown’s policy of seeking to maximize revenue through competitive bidding also increased the risks to which they were exposed. While being highly concentrated on tax farming in Portugal and the South Atlantic empire allowed the Torres family business to amass extraordinary wealth, it also proportionately increased the firm’s exposure to those risks, which were then further compounded by a succession problem that eventually led to its demise.Cambridge University Press2020-11-02T15:14:51Z2020-11-022019-04-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articlehttp://hdl.handle.net/10174/28243http://hdl.handle.net/10174/28243engSalvado, João Paulo, “The Rise and Fall of a Lisbon Family Business, 1710-1773: The Case of the House of Torres”, Itinerario: Journal of Imperial and Global Interactions,2019, vol. 43, n.º 1, pp. 146-172.146-1720165-1153 (Print), 2041-2827 (Online)https://www.cambridge.org/core/journals/itinerario/article/rise-and-fall-of-a-lisbon-family-business-17101773-the-case-of-the-house-of-torres/290F11748BB6897BEB6BD545AF63B15A43Itinerario: Journal of Imperial and Global Interactions1jsalvado@uevora.pt267DOI: 10.1017/S016511531900010XSalvado, João Pauloinfo:eu-repo/semantics/embargoedAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-01-03T19:24:31Zoai:dspace.uevora.pt:10174/28243Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T01:18:12.528160Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
The Rise and Fall of a Lisbon Family Business, 1710-1773: The Case of the House of Torres |
title |
The Rise and Fall of a Lisbon Family Business, 1710-1773: The Case of the House of Torres |
spellingShingle |
The Rise and Fall of a Lisbon Family Business, 1710-1773: The Case of the House of Torres Salvado, João Paulo tax farming colonial Brazil political economy legal framework public finance |
title_short |
The Rise and Fall of a Lisbon Family Business, 1710-1773: The Case of the House of Torres |
title_full |
The Rise and Fall of a Lisbon Family Business, 1710-1773: The Case of the House of Torres |
title_fullStr |
The Rise and Fall of a Lisbon Family Business, 1710-1773: The Case of the House of Torres |
title_full_unstemmed |
The Rise and Fall of a Lisbon Family Business, 1710-1773: The Case of the House of Torres |
title_sort |
The Rise and Fall of a Lisbon Family Business, 1710-1773: The Case of the House of Torres |
author |
Salvado, João Paulo |
author_facet |
Salvado, João Paulo |
author_role |
author |
dc.contributor.author.fl_str_mv |
Salvado, João Paulo |
dc.subject.por.fl_str_mv |
tax farming colonial Brazil political economy legal framework public finance |
topic |
tax farming colonial Brazil political economy legal framework public finance |
description |
By weaving the political economy of the Portuguese empire into business history, this article highlights the role of metropolitan and colonial tax farming in the rise and fall of an elite that dominated the business scene in both mainland Portugal and colonial Brazil between roughly 1730 and 1760. It takes the Torres family business as a case study and argues that, while tax farming undoubtedly represented an opportunity to accumulate private wealth, it was also a risky business. Adding to the irregularity of fiscal income, tax farming imposed strict rules on tax farmers, deriving from the legal framework for public finance, while the Crown’s policy of seeking to maximize revenue through competitive bidding also increased the risks to which they were exposed. While being highly concentrated on tax farming in Portugal and the South Atlantic empire allowed the Torres family business to amass extraordinary wealth, it also proportionately increased the firm’s exposure to those risks, which were then further compounded by a succession problem that eventually led to its demise. |
publishDate |
2019 |
dc.date.none.fl_str_mv |
2019-04-01T00:00:00Z 2020-11-02T15:14:51Z 2020-11-02 |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10174/28243 http://hdl.handle.net/10174/28243 |
url |
http://hdl.handle.net/10174/28243 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Salvado, João Paulo, “The Rise and Fall of a Lisbon Family Business, 1710-1773: The Case of the House of Torres”, Itinerario: Journal of Imperial and Global Interactions,2019, vol. 43, n.º 1, pp. 146-172. 146-172 0165-1153 (Print), 2041-2827 (Online) https://www.cambridge.org/core/journals/itinerario/article/rise-and-fall-of-a-lisbon-family-business-17101773-the-case-of-the-house-of-torres/290F11748BB6897BEB6BD545AF63B15A 43 Itinerario: Journal of Imperial and Global Interactions 1 jsalvado@uevora.pt 267 DOI: 10.1017/S016511531900010X |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/embargoedAccess |
eu_rights_str_mv |
embargoedAccess |
dc.publisher.none.fl_str_mv |
Cambridge University Press |
publisher.none.fl_str_mv |
Cambridge University Press |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
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Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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RCAAP |
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RCAAP |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
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Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
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1799136664230035456 |