The Timeless Relevance of Art of Trade by Benedetto Cotrugli
At COTRUGLI Business School, we are proud to be the first institution in the world to translate The Book of the Art of Trade by Benedetto Cotrugli into English. This milestone reflects our dedication to blending history, ethics, and leadership in business education. Cotrugli’s work is more than a manuscript—it is a foundational text that continues to inspire ethical and visionary leadership.
Cotrugli’s Vision: Business as a Moral Discipline
Written in 1458, Art of Trade defines trade not merely as a pursuit of profit but as a noble discipline dedicated to the well-being of society. Cotrugli stated that business is “an art, or rather a discipline, for the preservation of humanity, but also with the hope of gain.” This philosophy places legality, responsibility, and social value at the heart of enterprise. His ideas predate—and in many ways anticipate—the thinking of modern scholars like Peter Drucker.
A Life Shaped by Trade and Diplomacy
Born around 1416 in Dubrovnik to a family of prominent merchants, Cotrugli was first drawn to academia. However, his father’s illness required him to manage the family business, which took him across the Mediterranean—from Venice and Africa to Catalonia and Spain. His career evolved into diplomacy when he joined King Alfonso of Aragon’s court, later serving as Director of the Mint in Naples and L’Aquila.
Rediscovering Cotrugli’s Legacy
For over a century, Art of Trade survived only in manuscript form. Today, three known versions remain—housed in Florence and Malta. In the 20th century, scholars like Oscar Nuccio and Luc Marco helped re-establish Cotrugli’s legacy as a pioneer of management science. Their research connected him to a lineage of humanist thinkers who championed hard work, ethical entrepreneurship, and civic responsibility.
A Framework Still Valid Today
Cotrugli believed that businesses must serve a broader social purpose. He outlined three key principles of ethical commerce:
- Legality: Conduct business among lawful and accountable individuals.
- Order and Responsibility: Exercise care and structure in every decision.
- Profit for Purpose: Earn in ways that uplift and preserve society.
These ideas support a modern ESG mindset—where economic success and social good go hand in hand.
Why It Matters at COTRUGLI Today
Cotrugli’s teachings continue to guide our approach to education. We emphasize:
- Lifelong learning
- Strategic innovation
- Ethical leadership
- The balance between individual ambition and collective progress
His influence is embedded in every MBA and executive program we deliver
