*CANCELLED* Exchanging material for spiritual wealth: the Misericordia’s businesses in Portugal and its overseas empire (1500-1700)
The Misericórdias, (Holy Houses of Mercy), were lay brotherhoods founded in Portugal in the late fifteenth century. Many more were established thereafter in mainland Portugal and its overseas empire. The Misericórdias are one of the few institutions of the Ancien Régime that have persisted into modern times and were even founded where significant modern Portuguese diasporas live, such as Paris as late as 1994. Misericórdias practiced the medieval grammar of Catholic charity contained in the formulation of the “fourteen works of mercy”. Their activities went beyond the care for the poor. They accumulated wealth through inheritances of land and rents, became major creditors of the crown through the acquisition of public debt instruments (padrões de juro), lent money privately and took deposits, performing tasks that we associate with modern banking.
The paper focuses on the businesses of the Misericórdias in Portugal and its empire between 1500-1800, analyzing the financial backbone of these confraternities and the organizational methods and management strategies used to ensure a steady stream of income needed to carry out the fourteen works of mercy. Special attention is given to the Misericórdias established in the Portuguese overseas empire, as they also engaged in other ventures such as the transfer of wealth over long distances (e.g., the Misericórdia of Goa) and risky loans to merchants (e.g., the Misericórdia of Manila and Macau).
Dr Lisbeth Rodriguez is Assistant Professor - Nova School of Business and Economics | Researcher at ISEG - Lisbon School of Economics & Management
Prof. Isabel Guimaraes Saa is Associate professor of History at CECS, University of Minho - Portugal
this event is free to attend but booking is required.
This page was last updated on 14 March 2025
