Abstract

The purpose of this note is to offer a broad historical setting in which to review Yamey’s criticisms of Sombart and other historians regarding the significance they attributed to the introduction of double-entry bookkeeping for economic development. In a series of articles Yamey (1947, 1949, 1959, and1964, for example) challenged their views of the importance of double-entry bookkeeping to economic development. The note is organised as follows. The views of Sombart, Spengler, Nussbaum and Mattessich are quoted, and an overview of Yamey’s position is provided. The historical setting is then extended to include a broader context facilitating comparison of different approaches that may be classified as microeconomic or macroeconomic.

Keywords: Accounting history, Yamey, Sombart, capitalism, double-entry bookkeeping

How to Cite:

Ryan, J., (2014) “Historical Note: Did double-entry bookkeeping contribute to economic development, specifically the introduction of capitalism?”, Australasian Accounting, Business and Finance Journal 8(3), 85-97. doi: https://doi.org/10.14453/aabfj.v8i3.8