From: Adrian Tymes (wingcat@pacbell.net)
Date: Wed Jun 11 2003 - 12:45:52 MDT
--- Robin Hanson <rhanson@gmu.edu> wrote:
> On 6/10/2003 Adrian Tymes wrote:
> >I believe he said he had too little to invest. In
> his
> >defense, there is a demonstrated minimum amount of
> >financial resources, which most people are
> presently
> >unfortunately below, where one can achieve
> meaningful
> >progress in various technologies with just that
> >amount. ...
>
> Through the innovation of a joint stock corporation,
> many
> small investors can join together to make a large
> investment in a business enterprise. A share of
> most of
> these ventures can be had for less than $100. Most
> people have more than $100 available to invest.
True, but such ventures need large numbers of people
to be convinced of the efficacy of whatever the
corporation is doing. This takes time, which is also
in short supply, for industries that do not already
have existence proof that they are viable (such as new
technologies).
This archive was generated by hypermail 2.1.5 : Wed Jun 11 2003 - 12:54:52 MDT