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Response to Tansy_Gold (Original post)

Mon Mar 26, 2012, 08:12 AM

22. do we need a stock exchange?

http://www.nationofchange.org/do-we-need-stock-exchange-1332680909

Oc­cupy Wall Street is now back where the move­ment began, and there are even more so­ci­ety-shap­ing ques­tions in the wild then last Oc­to­ber. Since the hous­ing mar­ket crash dec­i­mated our coun­try we’ve been ex­am­in­ing our econ­omy from the grass­roots level up to far-reach­ing gov­ern­ment ini­tia­tives. We’ve seen wide­spread protests against du­bi­ous banks and the fi­nan­cial in­stru­ments which have al­lowed them to plun­der the na­tional wealth. But one ele­phant is still sit­ting in the mid­dle of the room... no few have been ques­tion­ing if the very logic of a stock ex­change is un­healthy in the long run. Con­ven­tional wis­dom says stock mar­kets are the best way in his­tory to gen­er­ate wealth. Some main­tain that this wealth does not get re­dis­trib­uted to the pub­lic in any sig­nif­i­cant man­ner. Ar­gu­ments against stock mar­kets in­clude the cost of entry and the com­plex­ity of the rules gov­ern­ing trans­ac­tions.

To un­der­stand the dys­func­tions of the stock mar­ket, we must un­der­stand what a stock mar­ket is. As early as the 1600s the con­cept of shared cor­po­rate in­ter­est was ce­mented in mod­ern West­ern civ­i­liza­tion when the dutch of­fered own­er­ship stakes in the Dutch East India Com­pany. The basis for col­lec­tive own­er­ship, how­ever, may have been in­tro­duced to Eu­rope as early as the Bronze Age. Shar­ing risk and re­sources among many stake­hold­ers is a nat­ural in­fu­sion of the most prim­i­tive prin­ci­ples of human co­op­er­a­tion. The con­cept of a pub­licly par­tic­i­pa­tory stock mar­ket, how­ever, is a much more re­cent in­ven­tion.

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Tansy_Gold Mar 2012 OP
Tansy_Gold Mar 2012 #1
DemReadingDU Mar 2012 #3
Fuddnik Mar 2012 #2
DemReadingDU Mar 2012 #4
Po_d Mainiac Mar 2012 #5
Demeter Mar 2012 #11
dixiegrrrrl Mar 2012 #38
Demeter Mar 2012 #6
Demeter Mar 2012 #7
dixiegrrrrl Mar 2012 #39
Demeter Mar 2012 #8
Demeter Mar 2012 #9
Demeter Mar 2012 #10
AnneD Mar 2012 #40
xchrom Mar 2012 #12
Demeter Mar 2012 #13
xchrom Mar 2012 #20
AnneD Mar 2012 #34
xchrom Mar 2012 #35
AnneD Mar 2012 #36
Demeter Mar 2012 #14
Demeter Mar 2012 #15
Demeter Mar 2012 #16
Demeter Mar 2012 #17
Demeter Mar 2012 #18
Demeter Mar 2012 #19
Demeter Mar 2012 #21
LineReply do we need a stock exchange?
xchrom Mar 2012 #22
bread_and_roses Mar 2012 #25
xchrom Mar 2012 #26
Demeter Mar 2012 #23
Tansy_Gold Mar 2012 #27
xchrom Mar 2012 #30
AnneD Mar 2012 #37
xchrom Mar 2012 #29
xchrom Mar 2012 #24
xchrom Mar 2012 #28
DemReadingDU Mar 2012 #31
FarCenter Mar 2012 #32
xchrom Mar 2012 #33
Demeter Mar 2012 #41
Demeter Mar 2012 #42
Demeter Mar 2012 #43
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