Thrilling Joint Stock Company quotations
The national debt has given rise to joint stock companies, to dealings in negotiable effects of all kinds, and to agiotage , in a word to stock-exchange gambling and the modern bankocracy .
Markets are as old as the crossroads.
But capitalism, as we know it, is only a few hundred years old, enabled by cooperative arrangements and technologies, such as the joint-stock ownership company, shared liability insurance, double-entry bookkeeping.
It is quite possible that future generations will look upon arguments about the inferiority of the socialist plan as we look upon Adam Smith's argument about joint stock companies which, also, were simply false.
There is no such thing as the Queen's English.
The property has gone into the hands of a joint stock company and we own the bulk of the shares!
The aggregate capital appears as the capital stock of all individual capitalists combined. This joint stock company has in common with many other stock companies that everyone knows what he puts in, but not what he will get out of it.
Joint-stock companies are yet in their infancy, and incorporated capital, instead of being a thing which can be overturned, is a thing which is becoming more and more indispensable.
That a joint stock company should be able to carry on successfully any branch of foreign trade, when private adventurers can come into any sort of open and fair competition with them, seems contrary to all experience.
With joint-stock corporations, investors can place bets on the success of many different companies, without having to play a central management role in any one of them. This allows investors to diversify their financial holdings. It also allows them to capture profits on their investments, without having to get involved in the dirty, troublesome business of actually running a company.