In both Europe and the American colonies, an elite group of intellectuals was convinced that humanity was beginning to leave superstition behind and was on the brink of a glorious new era. Science gave them greater control over nature than had ever been achieved before; people were living longer and felt more confident about the future. Already some Europeans had begun to insure their lives.6 The rich were now prepared to reinvest capital systematically on the basis of continuing innovation and in the firm expectation that trade would continue to improve. In order to keep abreast of these
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