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Mercantilist Origins of the Corporation

Author

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  • Robert B. Ekelund Jr.
  • Robert D. Tollison

Abstract

In this paper we present a new hypothesis about why the corporation was invented. The traditional argument stresses the importance of limited liability in the emergence of the corporate form. In contrast we stress the advantages that transferable shares hold for cartel owner-management in the early companies.

Suggested Citation

  • Robert B. Ekelund Jr. & Robert D. Tollison, 1980. "Mercantilist Origins of the Corporation," Bell Journal of Economics, The RAND Corporation, vol. 11(2), pages 715-720, Autumn.
    • Handle: RePEc:rje:bellje:v:11:y:1980:i:autumn:p:715-720
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    Cited by:

    1. Graeme G. Acheson & Christopher Coyle & David P. Jordan & John D. Turner, 2020. "Share trading activity and the rise of the rentier in the UK before 1920," Business History, Taylor & Francis Journals, vol. 62(6), pages 982-1001, August.
    2. Sergei Guriev & Andrei Rachinsky, 2005. "The Role of Oligarchs in Russian Capitalism," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 131-150, Winter.
    3. Madeeha Gohar Qureshi & Unbreen Qayyum & Musleh Ud Din & Ejaz Ghani, 2021. "Acemoglu, Johnson and Robinson’s Notion of Exogenous Imposition of Colonial Institutions onto Colonies— A Critique in the Light of Historical Evidence," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 60(2), pages 133-152.
    4. Louis De Alessi, 1989. "The Effect of Institutions on the Choices of Consumers and Providers of Health Care," Journal of Theoretical Politics, , vol. 1(4), pages 427-458, October.

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