Construct · 1 fields · 1 citations

law merchant: a standalone construct

One name. One construct. A landmark on the map.

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Economic history

the private legal code and judges of medieval trade fairs that let merchants enforce contracts and punish cheaters without a state.

In economic history, law merchant refers to the private legal code and judges of medieval trade fairs that let merchants enforce contracts and punish cheaters without a state. This meaning comes from Milgrom (1990) in Economics & Politics.[1]

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Nearby constructs

code3 fields · 6 citationsjingle · one word, three constructs state4 fields · 6 citationsjingle · one word, four constructs

References

Milgrom, P. R., North, D. C., & Weingast, B. R. (1990). The Role of Institutions in the Revival of Trade: the Law Merchant, Private Judges, and the Champagne Fairs. Economics & Politics, 2(1), 1-23. https://doi.org/10.1111/j.1468-0343.1990.tb00020.x

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