962 B
962 B
Commonalty
Definition
The collective body of citizens in a town who were granted corporate status and the right to participate in local governance through elected magistrates and town councils. The establishment of commonalty represented the political dimension of urban autonomy, giving townspeople collective legal personality and the ability to act as unified economic and political entities.
Source Chapter
Book III, Chapter 3
Context
Smith describes how towns were often granted commonalty status along with other privileges, creating institutional structures for self-governance. This corporate status was essential for towns to manage their economic affairs effectively, as it provided the legal framework for collective action in commercial regulation and dispute resolution.
Economic Domain
Regulation