Birth of Impersonal Exchange

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



"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." ( [