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The Wise Investor


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 lives.
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 person.
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people working within it had been replaced by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 employed a
significant proportion of the entire population. Thus
was born a fundamental element of a large society;
government.
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