With joint-stock corporations, investors can place bets on the success of many different companies, without having to play a central management role in any one of them. This allows investors to diversify their financial holdings. It also allows them to capture profits on their investments, without having to get involved in the dirty, troublesome business of actually running a company.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "With joint-stock corporations, investors can place bets on the success of many different companies, without having to play a central management role in any one of them. This allows investors to diversify their financial holdings. It also allows them to capture profits on their investments, without having to get involved in the dirty, troublesome business of actually running a company." in the context of "Jim Stanford (2008) Economics For Everyone Part 2, Chapter 7, Companies, Owners, and Profit, p. 91." to mean that wisdom is timeless.