Constraining Elites: The Self-Enforcing Constitution of the Patricians of Venice

Abstract

Can elites with access to governing institutions be constitutionally constrained? Effective constitutional constraints must be self-enforcing. This represents a substantial barrier to economic development, especially when elites control governing institutions. This paper analyzes how late Middle Age and Renaissance era Venice achieved economic prosperity despite being ruled by elite patricians. We argue that Venetian constitutional constraints, including the dispersion of power, complicated electoral procedures, term limits, and oaths of office, were self-enforcing because of mechanisms that incentivized elites to monitor and constrain one another.

Keywords: Constitutions, Constraints, Elites, Venice

JEL Classification: H1, 043, P48, N43