this post was submitted on 07 Mar 2024
992 points (91.3% liked)
General Discussion
11946 readers
6 users here now
Welcome to Lemmy.World General!
This is a community for general discussion where you can get your bearings in the fediverse. Discuss topics & ask questions that don't seem to fit in any other community, or don't have an active community yet.
🪆 About Lemmy World
🧭 Finding Communities
Feel free to ask here or over in: [email protected]!
Also keep an eye on:
For more involved tools to find communities to join: check out Lemmyverse and Feddit Lemmy Community Browser!
💬 Additional Discussion Focused Communities:
- [email protected] - Note this is for more serious discussions.
- [email protected] - The opposite of the above, for more laidback chat!
- [email protected] - Into video games? Here's a place to discuss them!
- [email protected] - Watched a movie and wanna talk to others about it? Here's a place to do so!
Rules
Remember, Lemmy World rules also apply here.
0. See: Rules for Users.
- No bigotry: including racism, sexism, homophobia, transphobia, or xenophobia.
- Be respectful. Everyone should feel welcome here.
- Be thoughtful and helpful: even with ‘silly’ questions. The world won’t be made better by dismissive comments to others on Lemmy.
- Link posts should include some context/opinion in the body text when the title is unaltered, or be titled to encourage discussion.
- Posts concerning other instances' activity/decisions are better suited to [email protected] or [email protected] communities.
- No Ads/Spamming.
- No NSFW content.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I'm pretty sure if you got rid of "the stock market" it would immediately be reinvented.
"Hey, I need money to start my CatChat app. If you invest, I'll give you part of the company"
"Cool."
"Hmm.. I bet I could sell parts of this to the public the same way"
Maybe the worst parts wouldn't be reinvented right away, but those are the things that need to actually go. High frequency trading, weird nonsense that's not actually creating value, etc
Maybe ban the derivative stuff like futures and bonds. No high speed trading, buying stock is like buying a handgun and has a waiting period.
Banking is a racket, make it public.
Insurance is a racket, make it public.
100% tax above 999,999,999 on any and all assets owned by a single entity.
Yeah, there would be a risk of that happening. But to prevent that, the existing concept of ownership in a company needs to change as well. All companies should be legally required to be 100% employee owned, no other form of ownership allowed.
The switch away from a stock market wouldn't be simple, and it would probably be quite painful. But absolutely worth it.