what it is: capital+ism. the investors call the shots

what normies hear when you say the word: free market. buyers - of the company's product, not its "equity" - call the shots

the more times someone wearies themselves re-debunking that myth, the more people there are who will have learned that distinction for the first time

@carcinopithecus I wish investors called the shots.

In reality, it's the creditors that call the shots. In any typical corporation, whoever is owed money gets first crack at the profits. Should the company fail, it's the creditors (not the investors) who seize the assets.

Afterwards, it's the preferred shareholders who, because of legal reasons, get compensated.

Finally, it's the common shareholders. They get whatever's left (if any).

This is why co-ops need to be a thing.

@atomicpoet @carcinopithecus Of course creditors get paid first. You borrowed their money. Preferred shares are just another debt vehicle. Common shareholders are last in line because they own the company. Co-ops wouldn’t change this. If a co-op borrowed outside money, those folks would get paid first in the event of a failure.

@midway @atomicpoet i'll admit i used the term loosely

but it's the same fundamental deal

something powerful lends you some power

and expects something later down the line

and that's how it owns you

@carcinopithecus @atomicpoet If you want full control over anything, you have to own it outright. If you don’t, we’ll, someone else will have a say. The big exception that is, of course, government.

@midway @atomicpoet "if it floats, flies, fights or forbids, rent don't own"

@atomicpoet @carcinopithecus Ah, the version I heard was if it flies, floats, or fucks, rent it. :).

@midway @atomicpoet that was the expression played on

(though of course governments fuck people over too)

@atomicpoet @carcinopithecus On a more serious note, the idea of who owns land goes back at least as far as William the Conqueror who claimed all of England as his through conquest. He then would license out parcels of that land on exchange for resources. But even though the land was titled to you, you could not actually own it in outright unless you defeated him in war. That systems has been passed down today. We just call it property taxes.
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