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The East India and West India merchants epitomized new wealth, sophistication and political influence that had accumulated in London as a result of a commercial revolution.
The Dutch East India Company led the way early in the seventeenth century by displacing the Portuguese in the Spice Islands and innovating in business structure...
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In 1612 the company shifted its organization from adventures in individual voyages ? as had long been common in European long-distance trade ? to a company with a permanent capital that was not redistribute to the investors at the end of each voyage. The British company soon adopted similar structure (Neal 1990)...
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