Joint Stock Company Quotes by Karl Marx, Adam Smith, Joseph A. Schumpeter and many others.
The aggregate capital appears as the capital stock of all individual capitalists combined. This joint stock company has in common with many other stock companies that everyone knows what he puts in, but not what he will get out of it.
That a joint stock company should be able to carry on successfully any branch of foreign trade, when private adventurers can come into any sort of open and fair competition with them, seems contrary to all experience.
It is quite possible that future generations will look upon arguments about the inferiority of the socialist plan as we look upon Adam Smith’s argument about joint stock companies which, also, were simply false.
The national debt has given rise to joint stock companies, to dealings in negotiable effects of all kinds, and to agiotage , in a word to stock-exchange gambling and the modern bankocracy .