Zhu Jinglun has been thinking about the shareholding system along the way, this system is no stranger to him, in later generations of China, this system is quite respected, it seems that no matter what type of enterprise, whether it is a state-owned enterprise or a private enterprise, once the shareholding system is adopted, especially after listing, it will become tall. Pen | fun | pavilion www. ｂｉｑｕｇｅ。 ｉｎｆｏ

The main reason for this phenomenon is that after the opening up, the new generation of experts and scholars who have studied in European and American universities have been respected, and their attitudes have influenced the whole society and formed a boom of the joint-stock system.

Of course, experts are not completely talking nonsense, otherwise there will not be so many people chasing after them, the key is that the Chinese love to make fun of nature, so that everyone swarms to engage in joint-stock companies, as if they do not have shares, they will fall behind.

Speaking of the benefits of shares, the biggest is of course the listing financing, the funds raised by the issuance of shares, the cost of any capital is lower, because basically there is no need to pay interest, in China's stock market, there is not even a need for dividends, so sometimes the listing is to circle money.

It can be said that the shareholding system greatly reduces the company's financing costs.

This is Zhu Jinglun's understanding in the past, and now he has a new understanding of the joint-stock system, and the biggest benefit of the joint-stock system is not the reduction of financing costs, but the reduction of capitalists' risks.

This was not Zhu Jinglun's blind guess, but what some German bankers said when they recommended the joint-stock system to him.

In this era, the German banks adopted the shareholding system on a large scale, which allowed them to greatly reduce the time for capital accumulation, and these joint-stock companies, through direct investment in German industry, they brought the management system of the bank to the industry, which greatly promoted the development of German industry.

And all this is greatly advanced with the shareholding system.

It is impossible to complete the industrial accumulation that the British would have taken hundreds of years to complete in just a few decades, but the risk is dispersed through shares, which is the greatest advantage of the joint-stock system: limited liability!

The Germans told Zhu Jinglun that the responsibilities of family or partnership banks are unlimited, and the company's liabilities need to be repaid by shareholders without restrictions, but the shareholding system is different, and he divides the responsibilities according to the amount of capital contribution, and in the case of insolvency, it is a big deal to go bankrupt.

Bankruptcy, to put it mildly, is a legal debt to be paid.

What a wonderful system that can not only use the lowest cost to make money, but also bear the lowest risk and responsibility. However, this is only for the capitalists. For their customers, for those simple, risk-conscious people, when they put all their belongings in the hands of a banker they trust, and suddenly one day the banker tells them that the bank is bankrupt and they will not pay back, it is not wonderful for these people.

Many people are for the trust in entrepreneurs, they continue to hand over their meager to these entrepreneurs, they know that there are risks in doing business, but they believe that these people will pay back, under the unlimited responsibility system, as long as these people do not die, they will always repay the debt, even if they die, in Chinese culture, the father and the son will pay back.

The joint-stock system breaks these traditions, and entrepreneurs are only responsible for using their limited capital contributions, but their customers, some small people, often feel that they are dealing with people, which is unfair to them.

The person who can think of this kind of system is really a genius, but it is certain that such a thing as the joint-stock system must be the culture of the capitalist class.

As for why everyone in later generations thought he was good, no one thought that this system was the most beneficial to capital, the most beneficial to capitalists, for capitalists, it would not hurt the bones to set up a joint-stock company with a little money, but for some wage earners, their savings may be used for retirement.

This is the business culture, this is the capital culture.

This is where the power of culture lies, it allows the dominant class to have the right to speak, and instills in the whole society some ideas that are beneficial to them, and the whole society thinks that it is very reasonable.

China is traditionally an agrarian society, and it is an agrarian culture that governs the text, so the dominant class is the bureaucracy and doctors. Therefore, the culture of Chinese society is beneficial to the bureaucracy and doctors, and the whole people still think that this culture is very reasonable. Culture determines people's minds.

Zhu Jinglun thought that at the end of the Ming Dynasty and the beginning of the Qing Dynasty, some outstanding elite scholars and doctors in the south of the Yangtze River rebelled against the Eight Banners Iron Cavalry, and at that time there was a literati named Wang Fuzhi, who put forward the view that "the rise and fall of the world is the responsibility of the husband", this view is very positive, basically passed down to future generations for hundreds of years, and no one has ever doubted the rationality of this sentence.

Including Zhu Jinglun previously felt that this sentence was very atmospheric and very representative of Chinese culture, but in terms of facts, this sentence is quite unfair to those people at the bottom of society.

Because this sentence destroys the principle of consistency of power and responsibility, when the world is in danger, the literati and doctors think of the puppeteers, and they propose that the puppets are responsible, but they never think that when the world is prosperous, what power do these puppets have? The world is prosperous, the husband has no power, the world is dead, but the husband has to be responsible, which is obviously very unfair.

However, such a sentence implied unfairness behind it, but it was accepted by the entire nation, and it was considered reasonable and deserved, which is the natural care of culture for the dominant class.

Because culture is mainly created by the dominant class, the elite class, but culture is not only spread among the dominant class, it will spread, and then affect all classes, so that all classes can look at problems according to the ideas of the dominant class, so that the whole society has formed a world view that represents and class.

Of course, Zhu Jinglun is not saying that Wang Fuzhi is shirking the responsibility of the elite who enjoyed most of the power in the past, and is deceiving or playing with the puppet, in fact, Wang Fuzhi and his ilk were the real national elite at the end of the Ming Dynasty, because at that time, most of the literati and doctors who enjoyed the most power in the past protected their power by surrendering and cooperating with the invaders, while Wang Fuzhi chose to defend their power by resisting.

Moreover, Zhu Jinglun believes that when Wang Fuzhi said this, he himself was convinced, and he himself did not think that this was a lie. This is where the great power of culture lies, and he makes the elites under this cultural system also think according to the culture they have created, and this culture is to influence the worldview of Wang Fuzhi and others, so that Wang Fuzhi and others can put forward the idea of continuing to protect and maintain this culture, or continue to promote this culture.

Therefore, this has nothing to do with Wang Fuzhi's personal morality, because the literati and doctors culture at that time was a culture in which literati and doctors enjoyed great power and took on as little responsibility as possible.

From this point of view, the culture created by the dominant class is consciously or unconsciously protecting the dominant class, but through cultural ideas, other classes unconsciously accept and acquiesce.

There are many more similar phenomena, and for example, China's local officials, originally one of their main responsibilities, is to provide legal services for the common people, but in China was born the idea of settling lawsuits, the entire literati and doctors, intentionally or unintentionally, instilled a shameful concept of lawsuits to other strata, and once the common people are unwilling to go to court, in fact, it is to reduce the burden on the officials, so this kind of thinking is obviously still beneficial to the superior bureaucracy, and unfavorable to the small people, but hundreds of thousands of years of indoctrination, Let the whole nation accept this concept.

Even in the 21st century, once a person gets into a lawsuit, he feels that it is a very unfortunate thing, even if he is the right party, even if he is the righteous party, he still feels uncomfortable and sighs unlucky. But in fact, lawsuits are inevitable and normal, but under the influence of the past culture, ordinary people just think that lawsuits are not good.

Obviously, the development of Western capitalist culture has reached the time when the capitalist class can enjoy the greatest power and assume the least responsibility. The capitalists only need to pay a little money that is not indispensable to them to shirk most of their responsibilities, while often their ordinary customers need to use all their savings, and even their hopes for the future, to work with them. It can be said that in this kind of cooperation, it seems reasonable, but in fact the risks taken by both parties are different. But the culture makes people feel that it is very fair, very reasonable, and even legally guaranteed.

Zhu Jinglun thought wildly along the way, and his views on the joint-stock system have changed greatly from the past, but he did not change his purpose of promoting this system, and the implementation of the joint-stock system is equivalent to reducing the risk for the capitalists, and the risk is borne by the broad masses of ordinary people and even the whole society.

The risk of the capitalist is reduced, and there is no need to bear the responsibility of framing, then it is more daring to invest boldly, history has also proved this, after the emergence of the joint-stock system, the capitalists are extremely welcome, the number of joint-stock companies has surged year after year, and then the capital investment has also increased greatly, and even various irresponsible investment expansion, pushing round after round of bubbles, the economic crisis breaks out every few years, and every few years a large number of joint-stock companies go bankrupt, and then pop up again after a few years, The cycle ultimately pushes society forward.

This is the characteristic of capitalist society, which is also promoted by Westerners as modernity, although it is deeply slandered, but it still has to promote his arrival, but Zhu Jinglun is still a little unwilling, can't he improve this?