as long as public and private investors take the same risk pari passu
Which is exactly what I propose through a "Capital Partnership"
1/ Put the assets and liabilities in custody.
2/ Share the revenues between Managers/Staff (Human Capital aka Labour) and Investors (Financial Capital) proportionally.
Share the defaults (ie losses of financial capital) proportionally aka pari passu among the investors. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
Institutions don't trade shares - they trade the beneficial interest in the shares...
Nothing new there. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
