This isn't how value or labor works at all. An hour of a doctor's time will be much more sought after and valuable than the time of say a shelf stacker? Surely that's intuitive?
The whole idea behind labor is that we all do specialized work, and one hour of your labor roughly buys one hour of another worker's labor, and together that makes society. The idea of one hour of your stock going up buying thousands of hours of labor is borderline incoherent.
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Wait, but don't we need a lot more man-hours of shelf-stacking to be done than man-hours of doctoring to be done? There are over 1 million retail stores and far less than 100,000 medical facilities in the US.
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Or it can be seen as an allocator of resources, insider trading aside
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Yeah, and then why would we want to assign more resources to someone who invested in the right stocks than to a hundred people who did a useful task?
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I dunno if I'd call it "borderline." I feel like it straight up is incoherent.
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I think "roughly" is the word that's confusing everyone. The difference between a retail worker's salary and an engineer's salary is minuscule compared to the difference between an engineer's salary and a billionaire, oligarch.
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It can be borderline incoherent as long as it's insanely profitable. And as long as it's borderline profitable it makes insane society.
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genuinely asking, as a leftist. Let’s say someone wants to start a a socialist worker’s organization that produces X product. Let’s say a few people want to invest in that endeavor. How would you weigh the risk / reward system? Or would no risky ventures ever be allowed to start?
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Your glorious asteroid mining collective would request resources, either via sourcing from low level collectives that agree to provide them, or requesting them from a democratically elected regional council that co-ordinates production.
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That, and learning how to make an economic profit on cancer.
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