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Summer 2022
ISSN 0890-913X
Volume 37, Number 2
Categories: Summer 2022 | Economic history

The Taming of the Condottieri

Gor Mkrtchian, Free Market Institute at Texas Tech University
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/index.php?action=ajax&rs=GDMgetPage&rsargs[]=2022 Journal of Private Enterprise Vol 37 No2 Summer for printers parte4.pdf&rsargs[]=0
TheTamingoftheCondottieriTheJournalofPrivateEnterprise37(2),2022,47-55GorMkrtchianFreeMarketInstituteatTexasTechUniversityAbstractMercenarieswerehiredbytheItaliancity-statesinthethirteenthtofifteenthcenturies.Theycould,andattimesdid,betraytheiremployers.Whydidthecity-stateshirethemdespitethepotentialfortreachery,andhowdidthecitystatesendeavortominimizethisprincipal-agentproblem?Inthisarticle,IqualitativelyanalyzewhyItaliancity-stateschosetoemploythemercenariesandwhattoolsthecity-statesusedtoattempttosolvetheproblem.Indoingso,IdrawandexpanduponAustriancontributionstopoliticalentrepreneurshipandinstitutionalanalysis.JELCodes:N43,H56,J41Keywords:economichistory,politicaleconomy,mercenaries,Italy,politicalentrepreneurship,condottieriI.IntroductionTheprimaryresearchquestionsofthisarticlearewhytheItaliancitystatesinthethirteenthtofifteenthcenturiesemployedmercenariesdespitetheirpotentialfortreachery,andhowthesecity-statesendeavoredtoovercomethatloyaltyissue.Iarguethattheleadersofthecity-stateswerepoliticalentrepreneurswhoemployedmercenariesdespitetheissuebecausethesestateswererichrelativetothesizeoftheirpopulations(Mallett[1974]2019,p.2)andarmingthepopulationbroughtrisksofitsown(LeesonandPiano2021),whichmeantthatmercenarieshadacomparativeadvantageovercivilianmilitiasinprovidingmilitaryservicestocity-states.Furthermore,thesecity-statesengagedinentrepreneurialinnovationinthecontractualandnoncontractualcompensationtermsprovidedtothemercenariesinordertoaligntheinterestsofthemercenarieswiththeirown,uptoandevenbeyondthemercenaries’deaths.AsLeeson(2012)writes,“LegalinstitutionsoccupyaplaceofprominenceintheAustrianapproachbecausetheyarethemselvesatoneleveloranothertheresultofpurposivebehavior...intheAustrianapproach,institutionsgenerally,andlegalinstitutionsinparticular,areobjectsofpraxeologicalinquiry”(p.189).Ratherthantakinginstitutionsforgranted(Leeson,p.187),thisarticleanalyzes
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Metadata [hide]

TitleThe Taming of the Condottieri
Authors/Creators:Gor Mkrtchian, Free Market Institute at Texas Tech University
Year:2022
Volume:37
Number:2
Pages:39 - 46
Publisher:The Association of Private Enterprise Education
ISSN:0890-913X
Document Type:Articles
Keywords:economic history, political economy, mercenaries, Italy, political entrepreneurship, condottieri
Citation:
Mkrtchian, Gor / 2022. "The Taming of the Condottieri." The Journal of Private Enterprise, 37(2): 39-46.
The Association of
Private Enterprise Education
Benjamin Powell
Secretary/Treasurer
Texas Tech University
Free Market Institute, Box 45059
Lubbock, TX 79409-5059
E-mail: apee@ttu.edu