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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
Average life expectancy was apparently just thirty to forty years, but this was due largely to the high incidence of child mortality. Children who made it through the perilous first years had a good chance of reaching the age of sixty, and some even made it to their eighties.
Sapiens
Yuval Noah Harari
All modern attempts to stabilise the sociopolitical order have had no choice but to rely on either of two unscientific methods: Take a scientific theory, and in opposition to common scientific practices, declare that it is a final and absolute truth. This was the method used by Nazis (who claimed that their racial policies were the corollaries of biological facts) and Communists (who claimed that Marx and Lenin had divined absolute economic truths that could never be refuted). Leave science out of it and live in accordance with a non-scientific absolute truth. This has been the strategy of liberal humanism, which is built on a dogmatic belief in the unique worth and rights of human beings – a doctrine which has embarrassingly little in common with the scientific study of Homo sapiens. But that shouldn’t surprise us. Even science itself has to rely on religious and ideological beliefs to justify and finance its research.
Sapiens
Yuval Noah Harari
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