Ive often seen individuals on the left talking about how billionares shouldnt exist etc., but when probed on how that could be accomplished the answer is usually just taxes or guillotines. I dont think either is great.

What if instead, corporations were made to be unable to be sold or owned. Initially theyre made to default to popular election for their board, and after that they can set up a charter or adopt a standard one, ratified by majority vote of their employees.

Bank collapse would probably follow, how could that be remedied? Maybe match the banks invalidated stocks with bonds?

  • Strider@lemmy.world
    41·
    3 days ago

    I’m not saying it is. But everything that offers the chance will be abused. And the way it currently exists, it shouldn’t.

    Currently it’s just a massive machine for people with massive money to get more, channel money / misdirect analysis / hide and exploit all others. On paper one might disagree, in reality though…

    • Opinionhaver@feddit.ukEnglish
      41·
      3 days ago

      Investing in the stock market isn’t something exclusive to the rich. For someone like me, it’s pretty much the only realistic way to build any significant wealth for retirement. Without investing, I’d just be losing money to inflation by keeping it in a bank account. Now that I’ve got it invested, I’m already earning enough in returns to cover a few months’ wages each year. It makes no sense to want to take that possibility away from everyone just because you despise billionaires.

      • Strider@lemmy.world
        2·
        3 days ago

        I understand and am happy for you that you see a benefit in this for you.

        However, I came to the conclusion that it is trivial for those in power to simply fuck you over on occasion. If you’re a small investor and lose, we’ll tough luck you signed up for it. If you’re the bank, oh dear, we need to rescue it! There are various examples of crashes and closures but it really is fine to have a different opinion.

        I just wanted to state I am not having mine simply for fun and did quite some research and also worked in a critical financial field once where made up money in a global scale was proven.

        As you will also have your background for your opinion. That’s fine!