Full text: Lecture on Economic History

Other ? of Enterprise                                                The Theory of stages:

Effect of money payment:   
                                                                                              Natural
                                                                                              ?
         Commutation  ,                                                            Money 
                                                                                               Credit
                                                        
Development of system of ? finances (John XXII) 
Later: Development of mercenary-warfare instead of
of feudal ?: Needs money.
This explains development of tax ?, and ?

Creation of bank deposits, transfers:



                                                                    
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