12
Economic association without kinship.
§
Trading within ethnic networks.
§
Ethnic culture and institutions
promote trust, enforce sanctions.
§
The Community Responsibility
System
.
§
Intergroup trading.
§
Sanctions imposed at group level.
§
The Individual Responsibility
System.
§
As groups grow, difficult to
monitor members effectively.
§
Rise of legal institutions of
nation-state and law merchant.
Hans Holbein the Younger, Portrait of Georg
Gisze, a German merchant in London (1532).
Staatliche Museen, Gemäldegalerie, Berlin.
