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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
Gunpowder’s subsequent career is even more telling. One might have thought that the Daoist alchemists would have made China master of the world. In fact, the Chinese used the new compound mainly for firecrackers. Even as the Song Empire collapsed in the face of a Mongol invasion, no emperor set up a medieval Manhattan Project to save the empire by inventing a doomsday weapon.
Sapiens
Yuval Noah Harari
There is some evidence that the size of the average Sapiens brain has actually decreased since the age of foraging.5 Survival in that era required superb mental abilities from everyone. When agriculture and industry came along people could increasingly rely on the skills of others for survival, and new ‘niches for imbeciles’ were opened up. You could survive and pass your unremarkable genes to the next generation by working as a water carrier or an assembly-line worker.
Sapiens
Yuval Noah Harari
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