The weight of a commodity is an objective way to determine the market value. Was there a self-regulating marketplace in the Bronze Age? What can we learn from weight systems? This was the subject of a team of researchers at the University of Gttingen, who investigated the spread of weight systems across Western Eurasia. The new simulation shows that even though there was no intervention by governments or institutions, the interactions of merchants are likely to explain the widespread use of Bronze Age technology to weight goods. These results were published in Proceedings of the National Academy of Sciences.Researchers compared the weight systems used in Western Europe and the Indus valley between 3,000 and 1,000 BC to determine the origins of different units. Analyzing 2,274 balances weights from 127 locations revealed that new, very similar units of weight emerged in a gradual spread west from Mesopotamia, with the exception being those from the Indus valley. Researchers created 100 units to determine if these systems were formed by propagation error. The simulation supported the existence of a single origin connecting Europe and Mesopotamia, taking into account measurement errors. The simulation also revealed that the Indus Valley developed an independent weight system. Research showed that if Eurasia trade had sufficient information to support a common weight system it would likely be sufficient to respond to price fluctuations.It was very similar to the weight systems that developed between Europe and Mesopotamia. A single merchant could travel from Mesopotamia, for example, to the Aegean, and then to Central Europe without having to alter their weights. Merchants could trade with foreign partners, while relying only on approximate weights. It was impossible to establish an international authority that would have been able to regulate the weight system accuracy over such a large area and for such a long time. Europe was not yet governed by a centralised authority. Researchers conclude that accurate weight systems were the result of a global network of regulators working from the bottom up."With the help of experimental tests and statistical analysis, we can now prove that free entrepreneurship is a major driver of the global economy since the Bronze Age," says Professor Lorenz Rahmstorf, Institute for Prehistory and Early History University of Gttingen. Merchants could freely interact, form profitable partnerships, and benefit from long-distance trading. Dr. Nicola Ialongo from the University of Gttingen says, "The idea of a selfregulating market that existed some 4,000 years ago gives a new perspective to the global economy of today." He says, "Try to picture all the international institutions currently regulating our modern world economy. Is global trade possible because of these institutions or because of them?"
