On a shortcoming of neocameral terminologyhttp://tonreihe.tumblr.com/post/153616158905/on-a-shortcoming-of-neocameral-terminology …
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Replying to @tonreihe
"... would there be an investment market in the shares of these states ...?" -- I'm going (hard) for "yes".
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Replying to @Outsideness @tonreihe
... "Don’t suppose that you can reduce the political to the non-political." - Without the extermination of politics, it's nothing.
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Replying to @Outsideness @tonreihe
Has this person never heard of activist investors?
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Replying to @ja_wentworth @Outsideness
Yes, I have heard of them. Actually existing publicly traded shares make it difficult to do.
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Because they are non-contractual, shares are a useful way of financing a company without ceding control.
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Contrary to shareholder theory, power in the corporation is actually located in mgmt. and the board of directors.
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... It's an open game theoretic issue. The agent-principal problem certainly isn't firmly settled.
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