Birth of Impersonal Exchange

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* The Birth of Impersonal Exchange: The Community Responsibility System and Impartial Justice. Avner Greif.

URL = http://www.stanford.edu/~avner/Greif_Papers/2006%20JEP%20The%20Birth%20of%20Impersonal%20Exchange.pdf


Description

"By fostering impersonal exchange and institutional development, the community responsibility system laid the basis for its own replacement by overarching systems of law-based exchange. Long-distance trade led to institutional change that further fostered growth. More generally, the system had lasting implications on the European trajectory of contractual, organizational, legal and political developments." (http://www.stanford.edu/~avner/Greif_Papers/2006%20JEP%20The%20Birth%20of%20Impersonal%20Exchange.pdf) [