Limited Liability Company
50 Things That Made the Modern Economy
English - July 22, 2017 03:00 - 9 minutes - 4.18 MB - ★★★★★ - 1.4K ratingsBusiness Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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Nicholas Murray Butler was one of the great thinkers of his age: philosopher; Nobel Peace Prize-winner; president of Columbia University. When in 1911 Butler was asked to name the most important innovation of the industrial era, his answer was somewhat surprising. “The greatest single discovery of modern times,” he said, “is the limited liability corporation”. Tim Harford explains why Nicholas Murray Butler might well have been right.
Producer: Ben Crighton
Editors: Richard Knight and Richard Vadon
(Image: LLC. Credit: Getty Images)