IN CONTEXT
Markets and firms
Josiah Child (1630–99)
1500s Governments grant merchants the monopoly of trade within specific regions.
1552–71 The Bourse in Antwerp and Royal Exchange in London are set up for shareholders to buy and sell stock in joint-stock companies.
1680 London stock “brokers” meet in Jonathan’s Coffee House to arrange share deals.
1844 The Joint Stock Companies Act in the UK allows firms to be incorporated more quickly and easily.
1855 The idea of limited liability protects investors in joint-stock companies from scams such as the South Sea Bubble of 1720.
Merchant ships have always raised funds for voyages ...
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