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Yes, but the advantage of the joint stock company is precisely that it separates concentration of capital from concentration of wealth.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon May 30th, 2011 at 10:32:22 AM EST
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Dunno about advantage, but it's certainly a quality.

The key disadvantages of joint stock companies are:

(a) Concentration of Capital = concentration of control

(b) Principal/ Agency problem.

"The future is already here -- it's just not very evenly distributed" William Gibson

by ChrisCook (cojockathotmaildotcom) on Tue May 31st, 2011 at 05:39:55 AM EST
[ Parent ]


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