I have no problem acknowledging my shortcomings as a writer. At the start of the article I said I was mainly concerned with publicly traded stocks. I could have been more clear that the primary concern is the amount of money tied up in the secondary market for stocks, which only benefits what I call unproductive speculation: buying and selling pieces of paper in search of profits.

I did acknowledge in the article that at present selling stocks can be part of the start-up process. While that option would not be available with this proposal, there would be plenty of potential liquid capital available in the form of existing stocks. They could be liquidated at any time and that money invested in the form of lending of one kind or another. It would be the only way to invest in businesses (other than sharing in profits).

The point is to encourage getting money out of 'paper' and into real investment in the process of producing actual goods and services. It would actually be better for start-ups because, since there would be no way to purchase existing stocks, they would not exist as competition for potential investors' capital.