Laeserin on Nostr: Shares in company stock are a form of property title, which is actually an ...
Shares in company stock are a form of property title, which is actually an abstraction away from capitalism. An LLC has no shareholders holding "stock", for instance, it has members with a "personal stake" or "member interest".
We were just discussing this, recently, that Real Capitalism™️ is when the people who own the company also are the people who utilize the capital in the company, even if they're just directing its use with their votes and opinions at member meetings. If the company is not owned by the actual capitalists who are emotionally invested in the activities and watching what is going on and talking about it, but rather by people who hardly know what is going on with the capital and don't really care (like people who own shares in big investment funds or mega-cap stocks), capitalism morphs into financialization, speculation, and eventually corporatism.
It's too much abstraction to remain efficient for long, and the shares end up being traded like tokens, rather than being valued as part-ownership of capital being put to some particular use.
We were just discussing this, recently, that Real Capitalism™️ is when the people who own the company also are the people who utilize the capital in the company, even if they're just directing its use with their votes and opinions at member meetings. If the company is not owned by the actual capitalists who are emotionally invested in the activities and watching what is going on and talking about it, but rather by people who hardly know what is going on with the capital and don't really care (like people who own shares in big investment funds or mega-cap stocks), capitalism morphs into financialization, speculation, and eventually corporatism.
It's too much abstraction to remain efficient for long, and the shares end up being traded like tokens, rather than being valued as part-ownership of capital being put to some particular use.