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Markets and Market Institutions: Their Origin and Evolution

The International Library of Critical Writings in Economics series
Edited by Mark Casson, Professor of Economics and Director, Centre for Institutional Performance, University of Reading, UK
The origin of markets is a central issue in economics and economic history, but until now there has been no definitive reference source on the subject. This authoritative collection fills the gap by reprinting key papers analysing the evolution of markets over the past millennium. These papers, written by leading scholars in the field, relate market development to urban growth, the spread of the credit system, and the evolution of capitalism. They show that markets did not evolve in a purely spontaneous fashion, but as part of the planned development of market centres by local landowners and business people. This volume, with an original introduction by the editor, will serve as an excellent reference tool to students, academics and practitioners interested in the broad field of economics and economic history, and market evolution in particular.
Extent: 768 pp
Hardback Price: £261.00 Online: £234.90
Publication Date: 2011
ISBN: 978 1 84980 389 2
Availability: In Stock
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  • Development Studies
  • Development Economics
  • Development Studies
  • Economics and Finance
  • Development Economics
  • Economic Psychology
  • Institutional Economics
The origin of markets is a central issue in economics and economic history, but until now there has been no definitive reference source on the subject. This authoritative collection fills the gap by reprinting key papers analysing the evolution of markets over the past millennium. These papers, written by leading scholars in the field, relate market development to urban growth, the spread of the credit system, and the evolution of capitalism. They show that markets did not evolve in a purely spontaneous fashion, but as part of the planned development of market centres by local landowners and business people. This volume, with an original introduction by the editor, will serve as an excellent reference tool to students, academics and practitioners interested in the broad field of economics and economic history, and market evolution in particular.
31 articles, dating from 1951 to 2008
Contributors include: R. Britnell, P. Hill, R. Hoyle, S. Jones, C. Lesger, J. Masschaele, O. Prakesh, G. Richardson, M. Spufford, P. Temin
Contents:

Acknowledgements

Introduction Mark Casson

PART I MARKETS: ANTIQUE, CLASSICAL AND MEDIEVAL
1. Peter Temin (2002), ‘Price Behavior in Ancient Babylon’
2. David W. Tandy (1997), ‘Early Movements of Goods and of Greeks’
3. Joan M. Frayn (1993), ‘Commodities Sold in the Markets’
4. George C. Maniatis (2000), ‘The Organizational Setup and Functioning of the Fish Market in Tenth-Century Constantinople’
5. S.R.H. Jones (1993), ‘Transaction Costs, Institutional Change, and the Emergence of a Market Economy in Later Anglo-Saxon England’
6. Richard H. Britnell (1993), ‘Markets and Rules’
7. Christopher Dyer (1989), ‘The Consumer and the Market in the Later Middle Ages’

PART II INTERNATIONAL MARKETS: MERCHANTS AND MIDDLEMEN
8. Alwyn A. Ruddock (1951), ‘The Organization of Trade’
9. Om Prakash (2004), ‘The Indian Maritime Merchant, 1500–1800’
10. Hugo van Driel (2003), ‘The Role of Middlemen in the International Coffee Trade Since 1870: The Dutch Case’

PART III MARKETS AND URBAN CITIES
11. Robert Sabatino Lopez (1964), ‘Market Expansion: The Case of Genoa’
12. James M. Murray (2005), ‘Wool, Cloth, and Gold’
13. Clé Lesger (2006), ‘Amsterdam and the Organization of Trade’
14. David Alexander (1970), ‘Aspects of a Changing Retail Market’

PART IV MARKET REGULATION: THE INSTITUTIONAL FRAMEWORK
15. Gary Richardson (2004), ‘Guilds, Laws, and Markets for Manufactured Merchandise in Late-Medieval England’
16. Ronald F. Homer (2002), ‘The Pewterers’ Company’s Country Searches and the Company’s Regulation of Prices’
17. Amanda McLeod (2008), ‘Quality Control: The Origins of the Australian Consumers’ Association’

PART V MARKET INTEGRATION AND PRICE CONVERGENCE
18. Carol H. Shiue and Wolfgang Keller (2007), ‘Markets in China and Europe on the Eve of the Industrial Revolution’
19. David S. Jacks (2006), ‘What Drove 19th Century Commodity Market Integration?’
20. Barry K. Goodwin, Thomas J. Grennes and Lee A. Craig (2002), ‘Mechanical Refrigeration and the Integration of Perishable Commodity Markets’

PART VI MARKETS, FAIRS AND RURAL DEVELOPMENT
21. S.R. Epstein (1994), ‘Regional Fairs, Institutional Innovation, and Economic Growth in Late Medieval Europe’
22. James Masschaele (1997), ‘The Quest for Markets’
23. Margaret Spufford (1984), ‘Introduction’
24. R.W. Hoyle (2007), ‘New Markets and Fairs in the Yorkshire Dales, 1550–1750’
25. Patrick O’Flanagan (1985), ‘Markets and Fairs in Ireland, 1600–1800: Index of Economic Development and Regional Growth’
26. Ian D. Whyte (1979), ‘The Growth of Periodic Market Centres in Scotland 1600–1707’
27. John R. Walton (1984), ‘The Rise of the Agricultural Auctioneering in Eighteenth- and Nineteenth-Century Britain’
28. Polly Hill (1966), ‘Notes on Traditional Market Authority and Market Periodicity in West Africa’

PART VII THE SOCIAL LIMITS TO MARKET OPERATION: IMPROPRIETY AND CORRUPTION
29. Ruth Mazo Karras (1989), ‘The Regulation of Brothels in Later Medieval England’
30. A.J. Arnold and J.M. Bidmead (2008), ‘Going “to Paradise by Way of Kensal Green”: A Most Unfit Subject for Trading Profit’
31. Charles R. Mayes (1957), ‘The Sale of Peerages in Early Stuart England’