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Markets and Market Institutions: Their Origin and Evolution

  • Elgar Research Reviews in Economics

Mark Casson

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 research reviews fills the gap by selecting 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 research review 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.

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