HST 211 Study Guide - Final Guide: Limited Liability Company, Putting-Out System, Water Frame
Document Summary
Week 6, class 1: financial revolution, sell shares. East india company - the 1st limited liability company. That means you are limited to how much you loss for a company"s debts. For eg. incest , company goes down and therefore only loss that , no creditors will go after you. This is good to get more shares bought since there is less risk for shareholders. Gb"s population like that of france and other western euopean nations, ws growing: revolution in demand quite fast. Gb increase standard of living in the world. Gb had also acquired a sizeable, and growing empire to trade. Britain"s substantial merchant marine shipped products far and wide. Even american colonies remained remained a valuable trading relationships. This all brings incentive to change the mode of production. Before everything was custom made and was good since pop was low.
