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The Wise Investor

In order to pay these people wages, it collected grain and
goods from all the people in the valley. As long as the
amount was small, the people were willing to make the
sacrifice, as they could see the benefits that were provided.
Schools for the children and hospitals for the sick were
built. Canals were built to supply water to everyone living in
the valley.
Since it was now impossible for the entire population to
meet and vote on rules and laws, the ruling group was given
the task of creating all laws for the valley. This was done on
the understanding that the ruling group would not be re-
elected for a following year if the general community was
not satisfied with their decisions.
To enforce these rules and laws, the ruling group was
allowed to hire a small number of strong men. These men
would detain any person who broke the valley's rules, and
force them to work on community projects for a period of
time as a punishment.
Thus, the community defined standards and physically
forced everyone in the valley to adhere to them.
On the whole, the system was fair, and few honest
people had any serious complaint with the arrangements.
Problems arose from time-to-time, but in general the
system allowed the valley people to live free and happy
In a similar way to the projects in the valley, the new
ruling group acted as a single entity. It hired employees, it
collected grain from the valley people, and it made decisions
on new laws. Indeed, although the individuals changed over
time, the group as a whole continued to operate as a single
It bought and sold goods, it owned assets, and its
decisions were still binding long after the individual people
working within it had been replaced by others.
The group borrowed money and lent money, it entered
into contracts, it sued people and people sued it. Over time
this entity became the single richest group in the valley, and