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From the Publisher''this is a very important book that gives rise to a number of highly significant questions for future research." -Reviews in History, Shami Ghosh
"Ogilvie’s conclusion has profound implications for the study of economic institutions, and that is what makes this an important book — one might even call it a game-changer." -EH-Net, Donald J.Harreld
"Sheilagh Ogilvie offers an erudite critique of the medieval and early modern merchant guilds, so often defended in academic debates." -Gladden J. Pappin, Journal of Markets and Morality
"This book not only effectively demolishes the efficiency thesis regarding merchant guilds, but, more importantly, also provides a framework for analysing institutional change, and it will define the terms of how social institutions should be researched and evaluated for years to come." -Economic History Review.