On Apr 27, 2009, at 10:29 AM, Max Sawicky wrote:
OK, I'll play devil's advocate. The stock market provides a liquid secondary market for stock issues, thereby facilitating the ability of firms to raise capital for new investment, among other misadventures.
I'd say it is also a machine for redistributing wealth from hapless middle class savers to the very wealthy.
"A convenience for rentiers..." - Joan Robinson _______________________________________________ pen-l mailing list pen-l@xxxxxxxxxxxxxxxxxx https://lists.csuchico.edu/mailman/listinfo/pen-l
- Re: [Pen-l] Questions on graduate school, (continued)
- Re: [Pen-l] Questions on graduate school, Max Sawicky Mon 27 Apr 2009, 15:26 GMT
- [Pen-l] Purpose of stock market, Bill Lear Mon 27 Apr 2009, 13:37 GMT
- Re: [Pen-l] Purpose of stock market, Jim Devine Mon 27 Apr 2009, 13:56 GMT
- Re: [Pen-l] Purpose of stock market, Max Sawicky Mon 27 Apr 2009, 13:57 GMT
- Re: [Pen-l] Purpose of stock market, Doug Henwood Mon 27 Apr 2009, 14:46 GMT
- Re: [Pen-l] Purpose of stock market, Bill Lear Mon 27 Apr 2009, 15:10 GMT
- Re: [Pen-l] Purpose of stock market, Max Sawicky Mon 27 Apr 2009, 15:21 GMT
- Re: [Pen-l] Purpose of stock market, Sean Andrews Mon 27 Apr 2009, 15:26 GMT
- Re: [Pen-l] Purpose of stock market, Doug Henwood Mon 27 Apr 2009, 15:57 GMT