Money for nothing and the risks for free

Limited liability is at the nub of it all. Paul Frijters points the finger.
Roman men engaged in commerce had a problem: Roman law did not recognise limits to the liability of their actions, so if some enterprise went badly wrong, they and their whole family could end up as slaves to pay off damage...

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Paul Frijters

Paul completed his Masters in Econometrics at the University of Groningen, and a PhD in wellbeing economics at the University of Amsterdam. He is now a Professor of Economics and …

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