The system evolved to promote physical expansion

Limited-liability corporations were formed to share risks of colonial ventures. The system took over economic control of expanding colonies. With exceptions, capital markets still expect companies to grow, yielding ever higher returns, and the cure for any macroeconomic hiccup: resume GNP growth.

Colonials could simply appropriate land from people who had no similar concepts of ownership -- apparently no one already owned it, or were easily shooed off if they did. Then declare a newly-opened area or claim to be an asset and raise money to develop it. After development to a higher asset value, sell it and repeat the process. Real estate development still works by a very similar basic pattern.

Later, the raising of capital for industrial ventures worked in a very similar fashion. Some ventures paid back; many did not; no guarantees.
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