What if we got rid of stocks? (lemmy.world)

submitted 3 weeks ago by bonus_crab@lemmy.world to c/asklemmy@lemmy.world

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Ive often seen individuals on the left talking about how billionares shouldnt exist etc., but when probed on how that could be accomplished the answer is usually just taxes or guillotines. I dont think either is great.

What if instead, corporations were made to be unable to be sold or owned. Initially theyre made to default to popular election for their board, and after that they can set up a charter or adopt a standard one, ratified by majority vote of their employees.

Bank collapse would probably follow, how could that be remedied? Maybe match the banks invalidated stocks with bonds?

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[-] FreedomAdvocate@lemmy.net.au -1 points 3 weeks ago

Oh so now you need a group of people to decide they want to start a business and take out a loan? So right there we've now eliminated small businesses run by a sole trader, yay? So now you need a bunch of people to all put their livelihoods on the line, and as soon as they hire more employees their share of the co-op is diluted while their loan portion is not. Again - yay?

So if one of the original starters quits or is fired from their job, what happens? What happens to their part of the loan? Do they get a payout when they leave? If not, again, why would they ever take the risk?

For the communist question

So there are no communist countries that exist where everyone is equally wealthy and there is no poor underclass and no super rich upper class rulers? That's what it sounds like to me. Hmmm, I wonder why communism has failed literally every time it has been attempted? But I'm sure this time communism would work, right? The others just didn't do it right, right?

Could you explain what financial risk is still there if you make an LLC? My understanding was the whole point of an LLC was to guard someone’s personal assets from risk if the company goes under.

You can't just make an LLC, take out a huge business loan, and then wipe your hands of it if the business the LLC runs goes bankrupt lol.

this post was submitted on 01 Jul 2025

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