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The roots of modern Capital appeared in Mediterranean Europe in the 12th century, as a way of financing long haul sea trade, where a financier would provide capital, in the form of ship and merchandise, in exchange of half the gains of the trip. The concept extended slowly to other forms of long range trade until about the 18th century.

Capital thus has its roots in trade, not industry ; and was a minor aspect of society until the 18th century. By then enriched traders started to invest in land surrounding their cities rather than keep their capital in trading ; and slowly land became considered capital.

Un roi sans divertissement est un homme plein de misères

by linca (antonin POINT lucas AROBASE gmail.com) on Sat Apr 14th, 2007 at 05:42:39 AM EST
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