[JackFr]

It certainly did. Among others, the Virginia Company, the Plymouth Company, the British East India Company all featured tradeable shares, perpetual lifetime, limited liability and legal personhood.

What makes the modern economy so different is the democraticization of incorporation. Prior to the 19th century it took a specific legislative act to incorporate.

[supernova87a]

Maybe that's something we need to bring back -- limits on how many and how large corporations can be? Before they take over running all of society?

Right now you can create infinite corporations, with little to no traceability as to who's really responsible. Maybe there should be some limits?

[paulstovell]

British East India company had its own army and literally did run a big part of society. Amazon doesn’t have an army at least. Maybe we are trending in the right direction.