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The problem of raising money to settle the New World led English merchant-capitalists to create the institution of
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The problem of raising money to settle the New World led English merchant-capitalists to create the institution of

User Ecyrb
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The joint-stock company

User Dynamphorous
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The problem of raising money to settle the New World led English merchant-capitalists to create the institution of the "joint stock company," since this allowed investors to share in the risks and rewards. 
User Navra
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