What is the point of the coupons if you can't trade them? Are they just a
bookkeeping device for distributing profits? Or is there some sentimental
attachment to stock certificates? I thought everything was book entry
these days. Book entry socialism?
Doug
Doug Henwood [[EMAIL PROTECTED]]
Left Business Observer
212-874-4020 (voice)
212-874-3137 (fax)
On Wed, 28 Sep 1994, Robin Hahnel wrote:
> In Roemer's model the coupons all get evenly distributed by taking
> all their stocks away from today's capitalists and handing out new
> coupons to every citizen so they all have identical portfolios --
> although if you think about that it makes for very strange porfolios.
> But then, if there is any point to the coupons at all, people are free
> to trade coupons with one another, which is why the coupon portfolios
> people come to have will be very, very different from one another within
> a short time after his coupon economy starts up.
>
