The Florentine traveler, merchant, and academician Filippo Sassetti was one of the premier economic thinkers of the late Renaissance. Well known for his ethnographic observations, Sassetti was also a commercial writer of the highest caliber—at once an original thinker and a remarkable witness to how Europeans even at the margins of empire were beginning to reconceptualize power and wealth.Unique among commercial theorists of the period, Sassetti offers a first-hand perspective on commerce in both the Mediterranean and the Indian Ocean. This volume translates (for the first time) the Discourse on Mediterranean Trade and a selection of the principal Indian Letters, with extensive historical notes. These are preceded by a lengthy essay positioning Sassetti as a figure in late Renaissance political economy. It makes the case that Sassetti was an early theorist of what might be termed the pragmatic tradition of free trade—in his case, a project linked to his analysis of commercial institutions in the Mediterranean and the Indian Ocean.Provoking an invaluable overview of trade in the Indian Ocean in the late sixteenth century, this volume is an excellent specialist text for postgraduate students and professional historians.