Abstract
AbstractThis article sheds light on the influence of José de Carvajal y Lancaster's establishment of shareholder companies in Spain on the economic programme of Sebastião José de Carvalho e Melo, better known as the Marquis of Pombal. Early eighteenth‐century Spanish debates on the capacity of shareholder companies to foster geopolitical reform informed the overlooked project of European cooperation of José de Carvajal y Lancaster. Carvalho studied and praised Carvajal's commercial reforms and understood that closer diplomatic and commercial collaboration between Spain and Britain would undermine Portugal's geopolitical interests. Carvalho's early economic schemes were thus the result, in part, of Iberian commercial emulation. The Iberian establishment of regulated and joint‐stock companies catalysed reform and reconfigured trans‐imperial commercial relations. Paradoxically, Carvajal and Carvalho's parallel views on European geopolitics, and their understanding of Enlightenment ideals, foreclosed the possibility of a Luso‐Spanish alliance.
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