i appreciate the intention of proposals to regulate capital, such as the financial transactions tax. But, it has been proven, repeatedly, for centuries, that capital will break the bonds of its regulation, and return like a zombie to loot at the trough of every available resource. Capital will always twist money, finance, and “investment” to serve as locations for looting.
This particular modern technological practice is widely known and understood – to use the micro-second that it takes electronic information to travel across wires or wireless networks as a space to leap in and NOT “invest” but instead raise the cost of investment and skim the difference – blatantly unproductive “rent-seeking” behavior that adds zero to “the economy” but only serves to funnel ever-more of humanity’s wealth into fewer and fewer hands. The only reason it’s “controversial” to address this blatantly unproductive practice is that these phony “investors” own and operate the “democracy” that supposedly “regulates” them.
Instead of endlessly hamster-treadmill “regulating” capital, we need to abolish it. We need to abolish “shares in corporations.” We need to abolish the for-profit, investor-owned, limited-liability corporation. We need to operate the economy on entirely different principles than looting, colonizing, exploiting, cost-externalization, profiteering, rent-seeking. Greed is NOT good.
The point we have reached with colonization and cost-externalization, has the entire ecology beginning to dis-integrate, and the greed-drunk monster egos can’t even look at it.