The key to industrial capitalism: limited liability
Article Abstract:
Limited-liability legislation was developed in the US from 1811, and the idea was taken up in Britain from 1854. Stockholders were no longer liable for companies' debts, so more money was available for investment. Confidence in stocks as an investment was affected by the crash of 1929, but stocks have since performed well despite a poor performance from the Dow from 1968 to 1982, a drop in 1987, and problems in Japan. Stocks are seen as providing strong enough capital growth to merit investing in them, despite the risks involved.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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Daylight clobbery
Article Abstract:
Investors in an offshore market for stocks in Malaysian companies, the Singapore Central Limit Order Book (CLOB) were told that their accounts had been frozen with claims seen as invalid, after the imposition of capital controls by Malaysia. United Engineers Malaysia and Telekom Malaysia have offered to exchange CLOB stocks for stocks in their companies A staggered release of CLOB stocks may be permitted in order to prevent CLOB stocks from undermining the recovery in Malaysian stocks.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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