Ive often seen individuals on the left talking about how billionares shouldnt exist etc., but when probed on how that could be accomplished the answer is usually just taxes or guillotines. I dont think either is great.

What if instead, corporations were made to be unable to be sold or owned. Initially theyre made to default to popular election for their board, and after that they can set up a charter or adopt a standard one, ratified by majority vote of their employees.

Bank collapse would probably follow, how could that be remedied? Maybe match the banks invalidated stocks with bonds?

  • Lv_InSaNe_vL@lemmy.world
    1·
    24 days ago

    So to answer your questions

    1. Depends on how they have their business registered. I once worked at a company that had 7 people total working there, but because it was legally a corporation it had a “board”, which was just the 3 guys who owned the company.
    2. Not necessarily, going back to my previous answer, but there is no legal requirement to sell your stocks when you hire someone. And if you decide to sell stocks you can do a private sale of any amount of the company that you want.

    Just because a company is a registered corporation doesn’t mean their stocks are sold publicly. But because they are a registered corporation, they have to have a board.

    • Bronzebeard@lemmy.zip
      1·
      23 days ago

      The op did not mention only companies that would be publicly sold. It said ALL OWNERSHIP of companies would be banned. So yeah, people can currently register their companies in whatever way they wish, but the op removes all the options that make the most sense for small companies. And I bet your example was just a partnership, and they wanted to feel fancy by calling it a board.