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Institutions of Hanseatic Trade - Studies on the Political Economy of a Medieval Network Organisation (Hardcover, New edition)
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Institutions of Hanseatic Trade - Studies on the Political Economy of a Medieval Network Organisation (Hardcover, New edition)
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The merchants of the medieval Hanse monopolised trade in the Baltic
and North Sea areas. The authors describe the structure of their
trade system in terms of network organisation and attempts to
explain, on the grounds of institutional economics, the
coordination of the merchants' commercial exchange by reputation,
trust and culture. The institutional economics approach also allows
for a comprehensive analysis of coordination problems arising
between merchants, towns and the 'Kontore'. Due to the simplicity
and flexibility of network trade the Hansards could bridge the huge
gap in economic development between the West and the East. In the
changing economic conditions around 1500, however, exactly these
characteristics proved to be a serious limit to further retain
their trade monopoly.
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