The critical here question is: a rising tide of *what*? The stock market is not the actual economy that people live in. In fact, I’d suggest it is contrary to general economic health — essentially economic “junk food”.
The corporation itself, when it goes public, only benefits at the initial public offering. After that, it’s just a gambling casino. Yes, corporate principals and many employees often hold stock, and so benefit when share prices rises, but that does nothing for the general operating funds. In fact, the need to pay dividends or buy back shares down the road is a liability to the company.
One of Gandhi’s seven deadly sins was “Wealth without work”. The majority of general shareholders have nothing to do with the company, its operations, or ability to create value. They may not even know what the company really does. Their only concern is making the share price go up - by whatever means necessary, even if it means destroying the environment, small business, communities — or sending weapons to foreign counties to devastate populations.
Money was originally a means of exchange for goods and service. Today, goods and services (whether real or illusory) are largely used a means to get more money. Delivering actual value only detracts from profitability (ask any health insurer). THIS is what threatens to destroy society, country, and planet.
Can we change course at this point? I have to say I’m not hopeful.
The critical here question is: a rising tide of *what*? The stock market is not the actual economy that people live in. In fact, I’d suggest it is contrary to general economic health — essentially economic “junk food”.
The corporation itself, when it goes public, only benefits at the initial public offering. After that, it’s just a gambling casino. Yes, corporate principals and many employees often hold stock, and so benefit when share prices rises, but that does nothing for the general operating funds. In fact, the need to pay dividends or buy back shares down the road is a liability to the company.
One of Gandhi’s seven deadly sins was “Wealth without work”. The majority of general shareholders have nothing to do with the company, its operations, or ability to create value. They may not even know what the company really does. Their only concern is making the share price go up - by whatever means necessary, even if it means destroying the environment, small business, communities — or sending weapons to foreign counties to devastate populations.
Money was originally a means of exchange for goods and service. Today, goods and services (whether real or illusory) are largely used a means to get more money. Delivering actual value only detracts from profitability (ask any health insurer). THIS is what threatens to destroy society, country, and planet.
Can we change course at this point? I have to say I’m not hopeful.