Abstract
For a long time, Canon law has been regarded as a reason for a traditional outlook on commerce and as a barrier against market innovations. The contrary is more convincing. In the 14th century representatives of the Church, theologians, Canonists, authors of penitentiary sums, and high representatives of the Church, particularly in Italy, developed a sense for the necessary freedom of the market and were ready to defend economic necessities. But at the same time they preserved their old principles. This twofold approach provided for flexibility and for clear, predictable rules. Both were essential for the development of a new European market.
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