It's not disconnected from reality. You just don't understand it.

If the stock market didn't exist you would have less opportunities to invest in well priced companies and people would be manipulated in investing in opaque, often ridden with accounting shenanigans things like private equity.

The more companies are public and subject to price discovery done by sophisticated players the better it is for uninformed players like normal investors but also less sophisticated informed players like pension funds.

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bmitc 5 hours ago | parent [-]

> people would be manipulated in investing in opaque, often ridden with accounting shenanigans things

This happens even with the stock market. See every financial crisis.

	▲	bluecalm 3 hours ago \| parent [-]
		Like which one? 2008 crisis was caused by reckless lending by banks as a result of silly regulation (government guaranteeing loans), implicit promise of bailouts and you could argue corruption. What does it have to do with the stock market? It's a nice dismissing soundbite but you're just missing the broader point and real issues coming with people's money being invested in non public entities. Besides, just because some problems also happen with solution A doesn't mean they wouldn't be worse with solution B. You are not really making a point just dismissing the idea of a public market without understanding the value of it.