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I wholeheartedly agree with this sentiment but I don't trust "elected representatives" to fairly represent my interests. I want voting shares issued directly t

I wholeheartedly agree with this sentiment but I don't trust "elected representatives" to fairly represent my interests. I want voting shares issued directly to me in an amount equal to my financial contribution (tax dollars / currency devaluation) towards their bailout.

gumby 7y ago
In practice this is both hard to do (denominator issue) and leaves control in the hands of a small number. The latter problem is also the argument against index funds (which I’m in favor if, but I appreciate the argument)
- uncletammy 7y ago
  > ...leaves control in the hands of a small number. Yes but it would still provide a considerably larger number of controllers (and with more diverse interests) than our current system. > In practice this is both hard to do (denominator issue) ... Excellent point here. It would be incredibly difficult. Here's a thought though ... Warning! I'm about to talk about cryptocurrency. Everyone might want to put on their futurism hats and keep their downvoting finger at bay, at least until I finish. This problem wouldn't be very hard at all to solve in a world where the bailout currency has similar properties to blockchain based cryptocurrencies. Company shares could be issued as an "airdropped" token to everyone holding the currency at the block height during which the bailout is agreed upon. Those tokens could be used directly to vote on shareholder matters and in a way that is fully fair and transparent. Yes I know. We are still many decades (and maybe centuries) out from a world in which cryptocurrency actually works how it's meant to. One day though...it's gonna be glorious. Alright, I'm done. Downvote away.
  - pasabagi 7y ago
    I didn't really follow the blockchain thing - but now I'm curious - is blockchain (as tech) essentially money with built-in metadata? The whole 'proof-of-work' thing seemed a bit potlatch to me, but building publicly-accessable metadata into money seems like an interesting (although possibly scary) idea.
tomp 7y ago
> I don't trust "elected representatives" > want voting shares issued directly to me Um... what are you going to do with your voting shares if not vote for elected representatives (the board, the CEO) that you'll have to trust to represent your interests?!
- rsanek 7y ago
  I think the idea is, at least there's one less level of indirection if the voting shares are issued directly to taxpayers.

gumby 7y ago

In practice this is both hard to do (denominator issue) and leaves control in the hands of a small number. The latter problem is also the argument against index funds (which I’m in favor if, but I appreciate the argument)

uncletammy 7y ago
> ...leaves control in the hands of a small number. Yes but it would still provide a considerably larger number of controllers (and with more diverse interests) than our current system. > In practice this is both hard to do (denominator issue) ... Excellent point here. It would be incredibly difficult. Here's a thought though ... Warning! I'm about to talk about cryptocurrency. Everyone might want to put on their futurism hats and keep their downvoting finger at bay, at least until I finish. This problem wouldn't be very hard at all to solve in a world where the bailout currency has similar properties to blockchain based cryptocurrencies. Company shares could be issued as an "airdropped" token to everyone holding the currency at the block height during which the bailout is agreed upon. Those tokens could be used directly to vote on shareholder matters and in a way that is fully fair and transparent. Yes I know. We are still many decades (and maybe centuries) out from a world in which cryptocurrency actually works how it's meant to. One day though...it's gonna be glorious. Alright, I'm done. Downvote away.
- pasabagi 7y ago
  I didn't really follow the blockchain thing - but now I'm curious - is blockchain (as tech) essentially money with built-in metadata? The whole 'proof-of-work' thing seemed a bit potlatch to me, but building publicly-accessable metadata into money seems like an interesting (although possibly scary) idea.

tomp 7y ago

> I don't trust "elected representatives" > want voting shares issued directly to me Um... what are you going to do with your voting shares if not vote for elected representatives (the board, the CEO) that you'll have to trust to represent your interests?!

rsanek 7y ago
I think the idea is, at least there's one less level of indirection if the voting shares are issued directly to taxpayers.