January 6, 2014 at 12:08 pm #20149patriciacollingParticipant
I’m beginning to form an unfavorable opinion of corporations and the stock exchange. There is still much I need to learn about these things but my instinct tells me that there is something strangely socialistic about the share ownership of a corporation, let alone my distaste for the culture of debt in bonds. I wonder if a shift in capitalism that public ownership of shares brought, that I do not like, is from a production-building system to a politically manipulative system–from a system where entrepreneurs use their talent and industrial managers use their skill to more aptly provide for the desires of the population to a system that influential people garner stakes in the application of force and money distribution, not for investment in production, but immediate gains to satisfy shareholders. I don’t think this opinion effects my libertarian philosophy but it may be that the work of people of whom I have high regard, commend the system. Any comments?January 6, 2014 at 4:21 pm #20150maester_millerParticipant
What would you do to prevent it?
Public ownership of shares of stock is a natural effect and expression of property rights. If someone owns a business, they can sell shares of it to whomever they want, including the public at large. I would suggest to you that most “private” companies are the same. In fact, any form of business other than a sole proprietorship almost certainly is divided into “shares” that have been exchanged in various ways at one point or another. A “private” firm most likely has some shares held by the owner, some by a family perhaps, some by a private equity fund, etc.January 6, 2014 at 7:35 pm #20151patriciacollingParticipant
I was going to mention that I wouldn’t suggest doing anything to interfere with the voluntary sale/purchase of shares but I can’t help but think that the evolution of the system has not been soundly beneficial to society. It is my understanding that I am not legally able to buy shares in private companies if their owners want to sell them to me–something to do with not being an accredited investor? Certainly, there has got to be some statist involvement with the application for a company to sell shares on the public market. Perhaps it is easier for CEOs to drive companies into the ground if there is a large public on whom to dump their shares. What protection does the board of a company have from lawsuits? In any case, as I said, there is a lot I don’t yet know but I need to start the conversation to learn–also, I want to believe and am more likely to believe that all systemic problems are because of government interference. I already believe monetary policy has had and is having terrible consequences on the stock market. The question is–how do we stop capitalism from becoming fascism or something like that, I guess? I’ll start by being as intellectually honest and inquisitive as possible.
- You must be logged in to reply to this topic.