Caveat Emptor: Abolishing Public Measurements, Standardizing Quantities and Enhancing Market Transparency in the London Coal Trade c1830

Velkar, Aashish (2008) Caveat Emptor: Abolishing Public Measurements, Standardizing Quantities and Enhancing Market Transparency in the London Coal Trade c1830. Enterprise and Society, 9 (2). pp. 281-313. ISSN 14672235

Full text not available from this repository.

Abstract

This article evaluates efforts to standardize quantities in the London coal trade c1830, and traces the end of the public measurement system first introduced in the fourteenth century. Increasing traffic in coal, reduction of taxes on the commodity, inefficient public meters, etc., contributed to the demise of public measurements. This outcome was the result of extensive negotiations between merchants, the various levels of state bureaucracy, and the parliament. Switching measurement standards was difficult, if not costly, to coordinate. Abolishing public measurements and switching from volume to weight measurements was part of the efforts to strengthen governance along the commodity chain, secure property rights by making quantities predictable and alter a mechanism that powerful merchants considered had become inappropriate.

Item Type: Article
Schools and Departments: School of Business, Management and Economics > Business and Management
Depositing User: Aashish Velkar
Date Deposited: 06 Feb 2012 20:08
Last Modified: 06 Jun 2012 13:05
URI: http://sro.sussex.ac.uk/id/eprint/24257
📧 Request an update