Institutions and the path to a modern economy. Lessons from medieval trade.
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It is commonly believed that existing differences in the economy, politics, and society reflect the influence of various institutions. However, among economists, political scientists, and sociologists, there is no consensus on what institutions represent, what forces influence their preservation and change, and how we can impact institutional development. This interdisciplinary book introduces the concept of institutions that unites seemingly opposite directions of institutional analysis in the social sciences. It employs a unified approach to studying the origins and preservation of institutions, their changes, and the influence of preceding institutions on subsequent ones.
The strengths of this approach are demonstrated through comparative studies of institutions in the medieval European and Muslim worlds. This comparative analysis of the institutional foundations of markets and states and their dynamics also contributes to understanding the functioning of modern economies. It highlights the uniqueness of European institutions and explains how and why they led to the emergence of the modern economy, supporting impersonal exchange, efficient states, and knowledge utilization.
Cover:
Cover:hardcover
Category:
- Category:Business & Money
- Category:History & Geography
Dimensions:
Dimensions:24.5x17.5x3.3 cm
Series:
Series:Economic Theory
ISBN:
ISBN:978-5-7598-0813-8
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