El paper How Rome enabled impersonal markets fue publicado por Benito Arruñada, quien consigna en el abstract: "Impersonal
exchange increases trade and specialization opportunities, encouraging economic
growth. However it requires the support of sophisticated public institutions.
This paper explains how Classical Rome provided such support in the main areas
of economic activity by relying on public possession as a titling device,
enacting rules to protect innocent acquirers in agency contexts, enabling the
extended family to act as a contractual entity, and diluting the enforcement of
personal obligations which might collide with impersonal exchange. Focusing on
the institutions of impersonal exchange, it reaches a clear positive conclusion
on the market-facilitating role of the Roman state because such institutions
have unambiguously positive effects on markets. Moreover, being impersonal,
these beneficial effects are also widely distributed across society instead of
accruing disproportionately to better-connected individuals."
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