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I was thinking more in line of stimulus. Like QE, but direct to private enterprise for the purpose of entrepreneurship or job creation. Entrepreneurs capitalized from the Feds money without banks in the middle. Fed owns equity in the business. Then ring fence speculative trading or only allow cash based speculation without derivatives. Let the hedge funds gamble but not on leveraged instruments. If they go bust it doesn't drag down the rest of the system
Maybe Job Guarantee? Govt as employer of last resort.
I don't know. Its a tough thing to ponder
Maybe Job Guarantee? Govt as employer of last resort.
I don't know. Its a tough thing to ponder
There are a lot of moving parts to take into consideration.
Something like that I would see as a stopgap measure at best because it doesn't really get to the basis of the problem, because leveraged trading is far from the only way that capital is misallocated by our society.
You don't fix the power vacuum of democracy with financialization trickery.
The only way is to fundamentally change the economics of production and creativity and by removing the ability of the collective to tax private property.
In this new world, everything you create is yours. Nobody takes a cut of your action. You trade your knowledge goods in the open market.
This is already happening in software. Now we move to the next stage of this transition.
Those who get on this bandwagon are the new wealthy of the world.
