Re: Origination of Capitalism

[Michael Perelman]

Keynes, Treatise on Money

139: "The booty brought back by Drake in the Golden Hind may fairly be considered
the fountain and origin of British foreign investment. Elizabeth paid off out of
the proceeds the whole of her foreign debt and invested a part of the balance
(about �42,000) in the Levant Company; largely out of the profits of the Levant
Company there was formed the East India Company, the profits of which during the
seventeenth and eighteenth centuries were the main foundation of England's foreign
connections; and so on.


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Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]