What theory was developed to jusify investing in Joint-Stock Companies for the New World?

The theory that was developed to justify investing in Joint-Stock Companies for the New World is known as mercantilism. This economic doctrine emphasized the importance of accumulating wealth, particularly gold and silver, through a favorable balance of trade and colonial expansion. Investors were drawn to Joint-Stock Companies because they allowed for shared risk and profit from overseas ventures, aligning with mercantilist goals of enhancing national power and wealth through colonial exploitation.