Investing money in someone to start a business because you believed that business would be worth it in the end happened way earlier though.
That’s just more abstract as the final value you can receiv isn’t capped anymore - but just having a loan-based economic model is already pretty capitalistic tbh.
But I see how what was basically the creation of stocks can also be seen as a starting point
Investing money in someone to start a business because you believed that business would be worth it in the end happened way earlier though.
That’s just more abstract as the final value you can receiv isn’t capped anymore - but just having a loan-based economic model is already pretty capitalistic tbh.
But I see how what was basically the creation of stocks can also be seen as a starting point
I think the more important change was that it wasn’t just nobles it was a wealthy merchant class investing