I agree, investing in a company is fine. It’s when you have the ability to trade your investment without any consequence whatsoever that the madness begins. Investment is supposed to be risky for both the company and the investor! But we’ve managed to externalize that risk into a market in which no single actor can be held responsible when a company is looted and destroyed by greed. Publicly-traded shares are now an entirely tax-free substitute for money - but only for the rich who have turned this system into a game to enrich themselves.
Another issue is that publically traded companies have a legal fiduciary responsibility to shareholders, but there is no legal responsibility to society or ethics. In fact, even laws supposedly designed to constrain businesses only carry fines for the business (and rarelyany responsibilityfor the individuals making the decisions), so it’s more of an ante to sit at the big boy’s table.
I agree, investing in a company is fine. It’s when you have the ability to trade your investment without any consequence whatsoever that the madness begins. Investment is supposed to be risky for both the company and the investor! But we’ve managed to externalize that risk into a market in which no single actor can be held responsible when a company is looted and destroyed by greed. Publicly-traded shares are now an entirely tax-free substitute for money - but only for the rich who have turned this system into a game to enrich themselves.
Another issue is that publically traded companies have a legal fiduciary responsibility to shareholders, but there is no legal responsibility to society or ethics. In fact, even laws supposedly designed to constrain businesses only carry fines for the business (and rarelyany responsibilityfor the individuals making the decisions), so it’s more of an ante to sit at the big boy’s table.