I thought it.was a trick question: you’re not offering to assuage my thirst at all, but you sure have drunk the capitalist Kool-Aid yourself. Given the age-old and still-ongoing spirit of unalloyed human endeavour, do you seriously believe that, with the sheer greed of the ugly, then-new bourgeois class called out for what it then was and still is, and so held in communal check, a different, socially ethical model of shared risk would and could not have emerged instead, to bring us to a better, safer, happier place, complete with Assam tea and civet coffee, than where we are now: on the road to imminent immolation?

You are aware, aren’t you, that Adam Smith, himself, addressing only the most elementary form of privately owned joint-stock venture emerging in his time, considered it to present a socially unacceptable degree of moral hazard, and there’s not a half decent political economist since who has not scored subsequent joint-stock developments ever lower on the total-crock-of-shit scale?

That’s to make up for the 22nd century which will be cancelled.

Traders wouldn’t have sailed to bring us sugar and spice and all things nice.

The risk would have been too high.

Sharing the risk and rewards is what made trade – including evil trade, slavery, opium – possible.

There is difference too between the shared risk enterprise shareholders and the now bs stockexchange speculators, who have nothing to do with the underlying businesses they invest in.

Take it from there and proceed to seperate the wheat from the chaff of commerce.

Whoops – Link

https://www.gurufocus.com/shiller-PE.php

“Does that help as a starter?”

Not yet. What wouldn’t have happened without joint stock companies?

(Someone should tell him that another (old) name for Belarus is “White Russia”.)

Also would have liked a bit more on how the taxpayers got shafted as the bankers pocketed all the war monies from all sides.

Hmm, i’ll have a quick go.
Do you drink tea or coffee?
It wouldn’t have happened without joint stock companies.

Does that help as a starter?