ECON 2720 Lecture Notes - Lecture 6: Feudalism, Ney, Sole Proprietorship
1 Feb 2017
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Historians argue a form of limited liability and a form of corporation appeared during this time. Prompted people to re-examining the banking system in rome and. Both city states had full functioning banking systems. Romans had banks all over the roman empire. Well established banking system but wasn"t different from the banking system in greece. Tax farming -> group of romans who would pay a lump sum to the treasury, collect taxes. Groups of romans to get together and borrow money from a bank and use that to bid on a government contract. Roman empire extended into spain, spain rich in silver, bid on the right for the silver mines in spain. Belgium -> time in caesar, rebellion of tax farmers. Belgium -> time in caesar, rebellion of tax farmers getting to greedy put stress on local population. Contracted by state but not built by the state itself. Before augustus (first citizen, not referred to as emperor)
