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One example of an inciusive institution discussed by Acemoglu and Robinson in their book 'Why Nations Fall {and in a large number of other publications}

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One example of an inciusive institution discussed by Acemoglu and Robinson in their book 'Why Nations Fall\" {and in a large number of other publications} is the so- called commenda contract in Mediaval Venice (and other parts of the Mediterranean}. These contracts are discussed in some additional detail in the two references in the Canvas module covering chapter 4 of the textbook. Acemoglu and Robinson claim that this type of contract offered emerging traders a pathway to commercial success and wealth. What feature best captures the "inclusiveness" of this type of contract? The contracts were written on cheap paper rather than expensive parchment. which lowered the entry costs substantially. \"H\"- The contract offered novice traders a line of credit to nance new commercial ventures. T- The commenda contract enabled up-and-comlng traders to acquire equity stakes in risky, but potentially lucrative commercial voyages without requiring them to supply capital in the same proportion as their prot share

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