it's only a ponzi scheme if there's no productivity behind the investment. The stock market is composed of companies that are mostly productive - the unproduct

it's only a ponzi scheme if there's no productivity behind the investment. The stock market is composed of companies that are mostly productive - the unproductive ones go bankrupt. Bad luck for those holding those shares, but this doesn't make the total stock market a ponzi scheme. people use "ponzi schemes" too often to incorrectly describe price increases.