What incentive does a rich billionaire have for starting a business? Money? They have billions.
The only business they start are for themselves / the benefit of other businesses they own. Their wealth accumulates, and it is spent only to perpetuate its growth. It does not find its way into new businesses. It does not create new sector growth.
However, the people that want billions and don’t have it have a hell of an incentive to start a business and run it well.
No common folk is getting rich thanks to the stock market. Maybe richer if they’re lucky, but let’s not pretend it’s a tool for social mobility. It’s the opposite.
Which is why stock trading should be abolished and outlawed.
or at least heavily taxed, which almost never happens because everyone in congress commiting insider trading wouldnt want that.
The housing market is basically an inverse wealth tax.
If you banned investing, the rich people who already have money would be the only ones who could afford to open businesses.
What incentive does a rich billionaire have for starting a business? Money? They have billions.
The only business they start are for themselves / the benefit of other businesses they own. Their wealth accumulates, and it is spent only to perpetuate its growth. It does not find its way into new businesses. It does not create new sector growth.
However, the people that want billions and don’t have it have a hell of an incentive to start a business and run it well.
Not necessarily, no. Other people with common aims would still be able to band together via nonprofits, credit unions, labor unions and the like.
It would actually be MUCH more effective once the most effective tool for exploding and concentrating wealth is out of the way.
No common folk is getting rich thanks to the stock market. Maybe richer if they’re lucky, but let’s not pretend it’s a tool for social mobility. It’s the opposite.