Chapter 223: Consumption Tax and Accountants (2)
“Indeed, I agree with the Baron’s suggestion that a new profession should be created to prevent those who commit fraud with stocks.”
“Thank you, Your Majesty.”
“However, do you really think it’s necessary to create a university to train them?”
In the Tuscany Empire, or rather, anywhere on the Albanian continent, a university degree is treated like a passed civil service exam.
Of course, the level of study required at medieval universities is not comparable to passing any exam.
The graduation rate is only around 10% of all enrollees.
Even commoners who graduate from university are often recognized with a rise in social status.
If accountants are included in that category, it will increase the ladder of upward mobility for citizens.
‘From the Emperor’s perspective, he must be worried about the class system.’
“As long as the stock system continues, the scale of money moving through stocks will only grow, much larger than it is now.”
One of the major factors supporting the Age of Discovery and the Industrial Revolution was the stock system.
Some scholars argue that even when considering the entire GDP of Europe before the 18th century, the West could never match the Qing Dynasty, yet the Westerners managed to dominate East Asia because they could distribute risk through stocks, which allowed them to make more daring investments. This contributed to the economic and industrial development, showing the huge impact the system had on society.