Between the market and the state: Ibáñez, the Marquis of Sargadelos (1749–1809), a Spanish businessman sailing against the tide

Joaquín Ocampo Suárez-Valdés and Patricia Suárez Cano

Business History, 2022, vol. 64, issue 3, 475-490

Abstract: When Spain began the transition from the Old Regime to liberalism, the business career of the Marquis of Sargadelos was unique. In an institutional scenario in which being a ‘profit seeker’ was an almost indispensable prerequisite to overcoming the steep barriers to the entry of manufacturing initiatives, and in a society where the capital accumulated in commercial and manufacturing ventures was diverted to the purchase of rural land, Ibáñez was an exception to the norm in two senses: first, for his willingness to take a risk on new industries, and second, for his efforts to update the available technology. It is in this sense that he might be described as a ‘Schumpeterian entrepreneur’. The aim of this article is to consider Ibáñez’s business career from a new perspective, both what it has in common with the classical business cycle of the time and the unique features of his industrial initiatives.

Date: 2022
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DOI: 10.1080/00076791.2020.1726892

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