It’s become a political trope to talk about the distinction between Wall Street and Main Street, but what a stock market allows is for the most worthy ideas from Main Street to grow and succeed. It’s easy for less open societies to open their own stock markets, but these don’t require the same level of transparency of listing companies or protect the rights of minority shareholders to the degree ours does, which is why the best companies from those countries yearn to be listed in our stock market.
Key Takeaways:
- The stock market is not only a barometer of our nation’s ingenuity but also a testament to our commitment to a meritocratic form of participatory democracy.
- For all the scandals that have afflicted Wall Street, our system is far more efficient at funding worthy ideas to create jobs than any closed Trumpian world ever could be.
- Companies listed on the stock market are forced by New Deal-era legislation to embrace a radical degree of transparency, reporting quarterly results and any reverses they suffer along the way.
“Our president-elect’s personal story, business practices and worldview don’t reflect the ethos of the stock market. Indeed, the opaque, dynastically run Trump Organization is the antithesis of a democratic, publicly traded company.”
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