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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
real peace is not the mere absence of war. Real peace is the implausibility of war.
Sapiens
Yuval Noah Harari
The Industrial Revolution brought about dozens of major upheavals in human society. Adapting to industrial time is just one of them. Other notable examples include urbanisation, the disappearance of the peasantry, the rise of the industrial proletariat, the empowerment of the common person, democratisation, youth culture and the disintegration of patriarchy. Yet all of these upheavals are dwarfed by the most momentous social revolution that ever befell humankind: the collapse of the family and the local community and their replacement by the state and the market.
Sapiens
Yuval Noah Harari
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