Originally Posted by kerry

There was no 'business world' in the modern sense at the time. If the modern corporation had been invented when he wrote it, it only had been around for a few decades at best. Calvin and his idea were very influential in Europe, particularly Scotland, and also in the USA as modern corporations were evolving. So, if it only served to keep less capable businessmen out of the field, that magnified over a few generations, could have a substantial effect on the growth of the economy.