The joint-stock, limited-liability corporation: joint-stock because the company’s capital was jointly owned by multiple investors; limited-liability because the separate existence of the company as a...
The introduction of universal male suffrage in 1907.
Seigniorage
Rigid structures of a hierarchical order can disintegrate with astounding rapidity.
Poor or the owners of small capitals enjoy scarce any, but are liable, under the pretence of justice, to be pillaged and plundered at any time by the inferior mandarins, the quantity of stock employed...
Perennial truths of financial history. Sooner or later every bubble bursts. Sooner or later the bearish sellers outnumber the bullish buyers. Sooner or later greed turns to fear.
Parties – that nominate candidates for election. Just as important as the parties are the officials – civil servants, judges or ombudsmen – whose responsibility it is to ensure that the elections are...
Parece seguro que esta decadencia relativa continuará en un futuro inmediato. Para muchos estadounidenses, la principal importancia de Europa no es la de ser un rival estratégico sino un destino turís...
Money was commoditized labour,
Los inversores prefieren colocar su dinero en países donde los derechos de la propiedad privada estén protegidos de manera eficaz, aunque esto debería ser considerado como un requisito mínimo. En
It was said to be ‘hardly in the power of liquor to affect Dr Webster’s understanding or his limbs’. Yet no one was more sober when it came to calculations of life expectancy.
It was decreed that Banque Générale notes should be used in payment for all taxes, a measure initially resisted in some places but effectively enforced by the government. Law’s ambition was to revive...
It is no longer a mere possibility that this network can be instrumentalized by corrupt oligarchs or religious fanatics to wage a new and unpredictable kind of war in cyberspace. That war has commence...
However, the round trip was a very long one (fourteen months was in fact well below the average). It was also hazardous: of twenty-two ships that set sail in 1598, only a dozen returned safely. For th...
Happiest and the most comfortable. It is hard in the stationary, and miserable in the declining state. The progressive state is in reality the cheerful and the hearty state to all the different orders...
Half of the American population agree with at least one conspiracy [theory] . . . Far from being an aberrant expression of some political extreme or a product of gross misinformation, a conspiratorial...
First networked polity. ‘In no country in the world,’ declared Tocqueville, ‘has the principle of association been more successfully used or applied to a greater multitude of objects than in America’:
Feckless
Every one per cent increase in the Bank of England’s base lending rate correlated with a three per cent drop in government popularity.
Constrained