| Sumario: | The first part of this article defines theoretically the importance of measurement for economic life. Systems of measurement are defined here as cognitive instruments that allow quantitative calculations and estimations of value. Establishing a standardized system of measurement is crucial for economic life because it reduces transaction costs and asymmetric information, and helps to rationalize economic processes. In contemporary capitalist societies, those functions have been greatly fulfilled by scientific systems, like the decimal metric system. The second part of the article underscores, through an empirical case, the complex and contentious nature of actually setting a system of weights and measures aimed to facilitate commercial transactions in international markets. The case in question is centered on the disputes in the United States and Latin America, from 1890 to 1930, to define a Pan-America system of measurement.
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