Abstract

Although neither Marx nor Engels attempted a systematic analysis of the development of merchant capitalism in 17th-century Holland, both did mention this "model capitalist nation" in their writings. Their analysis stressed that Dutch capitalism was based on the exploitation of non-capitalist forms of production, and that the decline of the Dutch Republic in the 18th century was the history of the subordination of commercial capital to industrial capital. Since the turn of the century Dutch Marxists have contributed substantially to this classical analysis, paying much attention to the Dutch Revolt against Spain, which they considered as an early bourgeois revolution led by aristocrats. Nowadays Marxist historians seem to be divided as to the nature of the Dutch Republic: was it a "feudal business economy" or the first appearance of a full-fledged capitalism? A necessary conclusion seems to be that the realities of Dutch history call for a non-unilinear Marxist interpretation