> Doug called for the gradual elimination of the stock market in
>his book "Wall Street", but I have a problem with this
>recommendation.
> Consider the venture capitalists founding a startup company.
>Having a stock market where he can "cash out" means that, once he's
>successfully started a company, he can recover his capital, and go
>on to start up other companies. Without a stock market, his capital
>would remain tied up in illiquid form in the original company, and
>the economy as a whole would be deprived of his talents as a
>starter-upper.
Perhaps you misunderstood me. I'm for the gradual elimination of the stock market as part of a program for the gradual elimination of capitalism. That would included the gradual elimination of venture capitalists.
Doug