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Facilitating an exchange, it is completely ignored.
Creation of the markets is business of businessmen, and it has long history. In
Medieval England fairs and the markets were organised by private persons,
Received the royal privilege. They not only gave constructions,
The necessary fairs for carrying out or the market, but also bore responsibility for
Safety (it is very important during such uncomfortable times with rather weak
The governments), also corrected court for the resolution of conflicts (exhibition court).
Fairs and the markets will be organised and during new time, including showrooms and so forth,
And frequently (besides in England) are business of municipalities. Certainly, them
The relative importance has decreased with growth of number of shops and others
The similar enterprises operated private retail and wholesale dealers.
Thus that the state provides safety, and at more developed
To system of justice owners of the old markets any more do not bear responsibility for
Safety and justice departure, though some exhibition
Courts have existed till the end of XIX century Chitty Herbert, Chilly's
Law of Markets,
p. 1 - 9; Palgrave's Dictionary of Political Economy, Fairs, 1958, Pease, the Review of history of fairs, the markets and
Exhibition courts see: Pease Joseph G., 2nd ed. by Harold Parrish, London: it Knight, "Piepowder Court", Markets" and London: Macmillan AND Co
1894 (tm) 1901; S V. "Fairs.
Thus that the role of the traditional markets has decreased, there were new markets,
Taken in modern economy not less important place. I mean the share
And commodity exchanges. Usually they will be organised by groups of dealers (members of a stock exchange),
Which own (or rent) premises in which are carried out
Transaction. All stock exchanges rather in detail regulate activity of those who
Trades in these markets (time which has been taken away for fulfilment of transactions, possible
Objects of trade, responsibility of the parties, conditions of agreements and so forth), and everyone
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