The credit relationship between Henry III and merchants of Douai and Ypres, 1247-70 : Credit Relations

The article studies the evolution of the constitutional arrangements in seventeenth-century England following the Glorious Revolution of 1688. It focuses on the relationship between institutions and the behavior of the government and interprets the institutional changes on the basis of the goals of the winners—secure property rights, protection of their wealth, and the elimination of confiscatory government. We argue that the new institutions allowed the government to commit credibly to upholding property rights. Their success was remarkable, as the evidence from capital markets shows. Show more

This 1994 book presents a detailed description and history of one of the most famous companies of the early fourteenth century. This analysis of the Peruzzi Company produces a radical reassessment of what made the Florentine 'super-companies' so exceptional: commodity trading, especially in grain, which required heavy capital, sophisticated organisation, and an international network. But the book also exposes the limitations of their financial power, and explodes the myth that the collapse of the Peruzzi and its joint-venture partner, the Bardi, was caused by bad loans to Edward III made to finance his invasions of France. Show more