[ExI] Americans are poor drivers

[Rafal Smigrodzki]

On Wed, Jul 8, 2009 at 2:28 AM, Stathis Papaioannou<stathisp at gmail.com> wrote:
> 2009/7/8 Rafal Smigrodzki <rafal.smigrodzki at gmail.com>:
>
>> Yet, if there is one owner of roads, Mr John D Public (the D stands
>> for dumb), there is no real incentive for technological progress, for
>> increased efficiency, because Mr Public can always take some more of
>> your money or time to cover any of his stupidities. A competitive
>> private owner would have to attract you with speed, comfort, safety
>> and low prices - he wouldn't put idiotic, blinking red obstacles in
>> your path.
>
> So what would you do if you were a shareholder in a company which
> owned the roads? Assume these are a special class of shares which
> cannot be traded, but which give you voting rights and the rights to
> any dividends generated or costs incurred.

### Is it a a monopoly sustained by the threat of force against new
entrants (people who try to build and sell their own roads)? If yes, I
wouldn't care, since this "company" would be just a new name for a
state. If no (i.e. this is competitive company, one among many), I
would look at the competitors and rather buy their shares. Obviously,
being unable to trade shares greatly limits my options - I cannot
salvage my capital if the company starts losing money, I cannot
capitalize on an increase in value of shares if the company starts
making more money, I cannot shift my capital to other uses should I
change my preferences (for example when I grow old and want to use it
up for some retirement fun and to strengthen my cryonic trust), I am
basically stuck with whatever happens.

Not to be disrespectful but  your question sounds like you have never
made an investment in your life - obviously, non-vested stock is
inferior to fully vested, tradable stock, this is a no-brainer.

Rafal