> the stock market as a system for promoting value creation is an imperfect approximation of an ideal value creator
yet
> See for example the state of hospitals and schools, and the rising rate of individuals with crippling medical and college debt.
Ummmm. State hospitals and schools are not traded on our stock exchanges. If there's a failure here, it's not with equities markets.
There's an obvious common denominator between the examples you give, and that these are the most highly-regulated industries in America. My first guess as to where to lay blame would be on those regulations - although we'd really need to dig into whatever the specific failures you're thinking of, if we want to be sure.
“See the state of hospitals” meaning the situation with hospitals, many of which it seems are private. Our schools are a mixture of state and publicly owned (I’m including college) but even state funded schools suffer due to their reliance on stock market driven suppliers such as textbook companies and the housing the teachers live in.
> My first guess as to where to lay blame would be on those regulations
Considering medical and educational costs (total system costs including government expense) are much higher here than they are for example in Germany which has State run institutions for both, I would see this as a poor assumption.
However I’m not actually advocating for State-run institutions, as I would rather see locally owned cooperatives for housing and schools, and larger federations of cooperatives for medical research. My point is that short term market-based winner-take-all approaches are hurting us.
I should add that the broad topic of discussion here is Boeing, which degraded in critical safety metrics after moving to a relaxed regulation environment and focusing on market based short term optimization.
yet
> See for example the state of hospitals and schools, and the rising rate of individuals with crippling medical and college debt.
Ummmm. State hospitals and schools are not traded on our stock exchanges. If there's a failure here, it's not with equities markets.
There's an obvious common denominator between the examples you give, and that these are the most highly-regulated industries in America. My first guess as to where to lay blame would be on those regulations - although we'd really need to dig into whatever the specific failures you're thinking of, if we want to be sure.