Well, the pre-capitalist baker can’t go IPO, that’s for sure. They can take out a loan from a local moneylender if they want to put in a bigger oven and don’t have savings to do it. How well the terms of that loan will be enforced might depend on how the local duke is feeling about moneylenders lately; q.v. The Merchant of Venice.
In our time, the makers of Twinkies and Wonder Bread are traded on the NYSE; while smaller local bakers are still typically privately held. But I bet that the local bakers’ retirement savings are invested in mutual funds.
Well, the pre-capitalist baker can’t go IPO, that’s for sure. They can take out a loan from a local moneylender if they want to put in a bigger oven and don’t have savings to do it. How well the terms of that loan will be enforced might depend on how the local duke is feeling about moneylenders lately; q.v. The Merchant of Venice.
In our time, the makers of Twinkies and Wonder Bread are traded on the NYSE; while smaller local bakers are still typically privately held. But I bet that the local bakers’ retirement savings are invested in mutual funds.