Ottoman merchants and the jurisprudential shift hypothesis
Merchants in every civilization operate within specific institutional frameworks, which determine their relative efficiency and their transaction costs. It can be argued that a more advanced and efficient institutional framework leads to lower transaction costs and lower transaction costs, in turn, lead to higher competitiveness. Merchant privileged to operate within an institutional environment allowing lower transaction costs simply can compete better and drive their competitors, operating at higher transaction costs, out of international markets.
Turkey , History , Ottoman Empire , Social conditions , Civilization
Cizakca, Murat. (2008). Ottoman merchants and the jurisprudential shift hypothesis. In Suraiya Faroqhi & Gilles Veinstein (Eds.), Merchants in the Ottoman empire (pp. 195-213). Paris: Peeters.