[ExI] Americans are poor drivers

Stathis Papaioannou stathisp at gmail.com
Thu Jul 9 06:37:43 UTC 2009

2009/7/9 Rafal Smigrodzki <rafal.smigrodzki at gmail.com>:

> ### Are you asking if I would buy these shares in an initial public
> offering?

No, that would be a quite different situation. The shares are issued
to everyone for free, with the option of voting to change the
structure so that they can be sold and accumulated. You assume that
the shareholders would vote to do this, and maybe they would. But they
might also choose to leave things as they are, just as voters choose
to leave some assets and organisations in public control and to
privatise others. Now I understand that you think privatising
everything is for the best, and perhaps you also think that left to
their own devices people will decide to do just that. But what should
be done if, foolishly, they choose to keep some things communally

Stathis Papaioannou

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