Boojatta
Boojatta's JournalShould owning a share of your workplace be encouraged as home ownership is encouraged?
Where I used the word "encouraged" in the title, I was thinking of the tax code, for example. I'm not merely talking about some rhetoric or empty words somewhere as being enough to qualify as encouragement.
I should also point out that I used the word "owning" to make it analogous to people foreseeing that they will pay off their mortgages and own their homes. However, if ownership for companies listed on a securities exchange means equity, then perhaps a better idea would be people becoming creditors of their employers in the sense of becoming bond holders. When housing prices are reasonably stable over a long period of time, investing in home ownership is like saving money, and not like buying stocks.
All of the rhetoric about the wonderful job-creating effect of money (not to be confused with venture capital) that is devoted to little more than maximizing short-term returns on the stock market seems to be based on the assumption* (see below) that the capital investment that is required for job creation is a game for the wealthy, and that most people should initially put all their eggs in one basket: the home ownership basket, which is a non-diversified and thus risky investment.
* Is that a reasonable assumption?
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