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What if we got rid of stocks? (lemmy.world)

submitted 3 days ago by bonus_crab@lemmy.world to c/asklemmy@lemmy.world

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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?

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[–] turmacar@lemmy.world 1 points 2 days ago (1 children)

You'd need to rollback the last 70 years of pensions being replaced by 401k plans and/or limit responsibility to the brokers. If you hire a licensed plumber that ends up flooding your neighbor's place, the plumber is the one getting sued.

It would probably also be good to restructure retirement incentives away from the stock market, but that's not going to happen overnight either.

[–] captain_aggravated@sh.itjust.works 0 points 2 days ago

Frankly there are probably a lot of people who need to see their retirements go away and they need to spend their golden years in the mines. They need to have their elderly assholes penised apart for voting for this shit for decades.