this post was submitted on 27 Sep 2023
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The whole infinite growth mentality caused by companies being public on the stock market is the real poison I think. So lets just axe the whole thing. No more stock market, every company is private again.
Which means no more stock speculators, or stock buybacks, or market manipulation schemes. Just companies selling their products to consumers based on their own metrics.
Well, for starters, this obliterates most people's retirement plans, so that's a bit of a hurdle.
That aside, what would happen is private equity firms and investment banks simply buying up most public companies, so I don't really see the grand improvement here.
I hate so much this talking point:
the system has captured the retirements, so we can't abolish it.
Like if we need this load of bull to support retirement, we should rethink everything from the ground up.
The point is that, whether you like it or not, abolishing something that most people are very strongly relying on for the last third of their life is something that's going to be incredibly complicated and met with a lot of opposition.
By all means, re-think away as you like, but don't be surprised when a lot of people aren't exactly a fan of what you come up with.
Provide food and shelter as a human right first, then dismantle everything else, and let people do what they enjoy.