23 sats \ 1 reply \ @siggy47 OP 4 Jun \ parent \ on: People who bought Berkshire cheap have their trades undone. econ
I agree, except for the elite, who's gains are private and who's losses are socialized. They're not really taking a chance.
Equity markets are the foundation of capitalism as we know it.
Would we still have smartphones if not for public companies like Apple and Google?
Stocks represent real businesses.
Bitcoin is money, stocks are investments. Money is used for saving and to facilitate trade, investment is what commits money towards the production of goods.
I wonder if there is a hypothetical, more ancap future, where equity markets are taken outside of the purview of the state.
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