In the late years of the nineteenth century, "capital" and "labour" were enlarging and perfecting their rival organisations on modem lines. Many old firms was replaced by a limited liability company with a bureaucracy of salaried managers. The change met the technical requirements of the new age by engaging a large professional element and prevented the decline in efficiency that so commonly spoiled the fortunes of family firms in the second and third generation after the energetic founders. It was moreover a step away from individual initiative, towards collectivism and municipal and state-owned business. The railway companies, though still private business managed for the benefit of shareholders, were very unlike old family business. Meanwhile the great municipalities went into business to supply lighting, trams and other services to the taxpayers.
The growth of the limited liability company and municipal business had important consequences. Such l
A. were ruined by the younger generations.
B. failed for lack of individual initiative.
C. lacked efficiency compared with modem companies.
D. were able to supply adequate services to taxpayers.
In the late years of the nineteenth century, "capital" and "labour" were enlarging and perfecting their rival organisations on modem lines. Many old firms was replaced by a limited liability company with a bureaucracy of salaried managers. The change met the technical requirements of the new age by engaging a large professional element and prevented the decline in efficiency that so commonly spoiled the fortunes of family firms in the second and third generation after the energetic founders. It was moreover a step away from individual initiative, towards collectivism and municipal and state-owned business. The railway companies, though still private business managed for the benefit of shareholders, were very unlike old family business. Meanwhile the great municipalities went into business to supply lighting, trams and other services to the taxpayers.
The growth of the limited liability company and municipal business had important consequences. Such l
A. some countries developed quickly because of the emergence of the limited liability company.
B. the tide of industralisation would wide benefited British shareholders greatly.
C. shareholders contributed a lot to the fast growth of the British economy.
D. the system of shareholding impaired the management of modem companies.
In the nineteenth century, poor Europeans seeking to make their fortunes turned to America as a matter of course .()
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