This is quite true. It is an artificial construct with a plausible benefit in providing a system for people to pool together some funding that can enable a corporate entity to expand and grow more rapidly. The question is whether that is truly essential for human progress as a whole, especially considering the potential downside, which makes a system dependent on investor mood for stability, which can undermine the entire enterprise and, in a panic, devalue every listed company across the board with a collapse in stock prices that is orchestrated to happen surreptitiously. It is the same with the creation of currency manufactured by the state, whether in paper form or coinage, it is an arbitrary arrangement that depends on faith and ultimately, as shown by history, will one day collapse and become worthless. This is a game played over and over again working against you; each successive generation is suckered in to be an investor and take their chances; some win while many lose.
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