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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: TigerPaw who wrote (11111)	2/7/2006 6:49:12 PM
From: TimF	Read Replies (1) \| Respond to of 541604

You haven't stated any advantages to the "immortal lifespan" of ownership. I think the durable (not truly immortal) lifespan of ownership of property is inherent in any property that is durable. Any attempt to take it away is confiscation. It can be straight out theft or it can be confiscation with compensation. That later is not as bad but is still something that should be minimized both out of respect for property rights in an abstract sense and for the practical reason that reducing property rights has negative economic effects. The positive to durable ownership because that is the avoidance of the negatives associated with seizing property (even with compensation). Note also that if someone really wants durable ownership they can still have it in your system. The stock "decays" over time as some of it is (forcibly) bought back (and distributed to the employees). The original investor could, as soon as the transaction is complete, turn around and buy shares in the same company with the money received. The net effect than is to make the investor spend a slight bit more for commissions. Tim