Discussion about this post

User's avatar
Ibti's avatar

For a long time, European trade was based on commenda contracts, copied from the Muslims' muḍaraba. However, in order to get their hands on the exotic spices, sumptuous fabrics and other luxurious consumer goods Muslims were trading in via the silk route, they innovated the "limited liability" corporation to fund the risky sea journeys around Africa. The notion of the company as its own juristic person to shield its shareholders in their personal capacity from the debt and harm incurred by the enterprise in which they invested, was considered sinful and caused a moral outrage in the church upon inception 400 years ago. Limited liability enabled the west to "pull ahead" of Muslims, enabling colonialism, the trans Atlantic slave trade, the emiserating industrial revolution, globalization, climate change and tech feudalism. The west is in its Dark Ages, again. Governments are oppressing their people, crusaders are sending forth bodies and armaments to mass murder Muslims and the populace is in the grips of AI superstition.

Expand full comment
AB Doc's avatar

The hegemony of Human conquest. That's how we roll as a species, at least for the last 5,000 years. Shall we try a new paradigm ?

Just sayin' . . .

Expand full comment
80 more comments...

No posts

Ready for more?