General Discussion
In reply to the discussion: In your opinion do Wall Street and the Investment Banks serve a societal purpose? [View all]hunter
(38,328 posts)There's no reason the internet couldn't be managed in a similar way.
So far as funding, see my post below.
Our existing economy is like a stagnant pond. The scum rises to the top and blocks out all the light and oxygen from the economy below.
"Trickle down" doesn't work unless you are an anaerobic criminal or corrupt community political "boss."
To get the economy circulating again we need to pull out the money the uber wealthy hold in stagnant "investments" and other paper games, and return it to the economy of ordinary people by progressive taxation of both wealth and income.
A properly managed economy is, by my rough guess, about 51 to 66 percent socialist. Inflation is controlled by taxing money from "the top of the pond."
Unemployment and other economic problems are dealt with by pumping money into the bottom of the pond.
There need not be any close coupling between those two flows of money.
Depending upon the current economic situation, the flow of money off the top of the pond, taxes, may exceed money pumped into the bottom of the pond, and at other times the opposite may occur.
But there is no reason to have private investors making money off these changing flows. That sort of management of the money supply is an anachronism from a time when "money" was actual gold, silver, or copper metal coins. Bitcoins are simply a modern version of the same.