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In order to increase the number of potential investors and reduce the risk they incurred, Europeans turned to limited liability joint-stock companies. Instead of a single investor betting all his money on a single rickety ship, the joint-stock company collected money from a large number of investors, each risking only a small portion of his capital. The risks were thereby curtailed, but no cap was placed on the profits. Even a small investment in the right ship could turn you into a millionaire.
Sapiens
Yuval Noah Harari
The beauty of Darwin’s theory is that it does not need to assume an intelligent designer to explain how giraffes ended up with long necks.
Sapiens
Yuval Noah Harari
China’s agrarian system is unjust in the extreme. Speaking of general conditions, landlords and rich peasants who make up less than 10 per cent of the rural population hold approximately 70 to 80 per cent of the land, cruelly exploiting the peasantry. Farm labourers, poor peasants, middle peasants, and other people however, who make up over 90 per cent of the rural population, hold a total of approximately only 20 to 30 per cent of the land, toiling throughout the whole year, knowing neither warmth nor full stomach. These grave conditions are the root of our country’s being the victim of aggression, oppression, poverty, backwardness, and the basic obstacles to our country’s democratisation, industrialisation, independence, unity, strength and prosperity. In order to change these conditions, it is necessary, on the basis of the demands of the peasantry, to wipe out the agrarian system of feudal and semi-feudal exploitation, and realise the system of ‘land to the tillers’.
How Asia Works
Joe Studwell
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