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1、P1:KAE0521480442preCUNY084B/Greif0521480442November23,200519:6ThispageintentionallyleftblankiiP1:KAE0521480442preCUNY084B/Greif0521480442November23,200519:6INSTITUTIONSANDTHEPATHTOTHEMODERNECONOMYlessonsfrommedievaltradeItiswidelybelievedthatdisparitiesineconomic,political,andsocialout-come
2、sreflectdistinctinstitutions.Thereislittleagreement,however,amongeconomists,politicalscientists,andsociologistsastowhatinstitutionsare,whatforcesinfluencetheirpersistenceandchange,whysocietiesevolvealongdistinctinstitutionaltrajectories,andhowwecaninfluenceinstitutionaldevel-opment.Thismultidi
3、sciplinarybookdevelopsaconceptofinstitutionsthatintegratesseeminglyalternativelinesofinstitutionalanalysisinthesocialsciences.Itadvancesaunifiedframeworktostudyinstitutionalorigin,persis-tence,endogenouschange,andtheimpactofpastinstitutionsonsubsequentones.Thebenefitsofthisperspectivearedemon
4、stratedthroughcomparativestudiesofinstitutions–particularlythosethatsupportedtrade–inthelatemedievalEuropeanandMuslimworlds.Thiscomparativeanalysisoftheinstitutionalfoundationsofmarketsandpolitiesandtheirdynamicsalsoprovidesvaluableinsightsonthefunctioningofcontemporaryeconomies.Indeed,thea
5、nalysishighlightsthepossibleparticularitiesoftheEuropeaninstitutionsandwhyandhowtheycontributedtotheriseofthemoderneconomybysupportingimpersonalexchange,fosteringtheriseofeffectivestates,andleadingtoadvancesinusefulknowledge.AvnerGreifistheBowmanFamilyEndowedProfessorinHumanitiesandSciences
6、,ProfessorofEconomics,andSeniorFellowattheInstituteforInter-nationalStudiesatStanfordUniversity.HeisarecipientoffellowshipsfromtheAmericanAcademyofArtsandSciences,theMacArthurFoundation,theEconometricSociety,theCanadianInstituteforAdvancedResearch,andtheCenterforAdvancedStudiesintheBehavior
7、alSciences,Stanford.HehaspublishedarticlesinsuchjournalsasAmericanEconomicReview,JournalofPoliticalEconomy,JournalofEconomicHistory,AmericanPoliticalScienceReview,EuropeanReviewofEconomicHistory,andChicagoJournalofInternationalLawaswellaschaptersinmanyed
