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  #1  
Old 19th September 2008, 06:07 PM
GlasgowGirl GlasgowGirl is offline
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Default What would happen if the stock market was abolished?

Genuine question - given the havoc that has been wreaked over the last few days due to short selling, and the more general uncertainty that is created by fluctuations in the stock market, I began to wonder what would be different if there was no such thing?

Please note I am not a closet Marxist trying to bring about the overthrow of society via the medium of internet forums. I'm just curious: what changes would we notice? How would life be different?
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Old 19th September 2008, 07:39 PM
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I guess you would have to ban the trading of stock as this would still happen whether the stock market was there or not - it just evolved to make the process easier. If that did happen the UK would dive into recession as the amount of cash this industry generates really drives our economy.
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Old 1st October 2008, 04:41 PM
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After reading your comment, Tony, I was curious to see how much of UK GDP (Gross Domestic Product, basically a country's income) comes from the world finance sector, and according to this article in Finance Week, it is only 7-8%.

Finance overall makes up 30% of GDP but most of this is domestic activity.
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Old 2nd October 2008, 03:55 AM
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The way the economy is currently set up and the way companies are currently valued, if the stock market was to be eliminated - the entire economic system would collapse. It would be choas and millions of people would be bankrupt, out of business, jobless, etc.
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Old 7th October 2008, 09:31 PM
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Quote:
Originally Posted by katealpha View Post
After reading your comment, Tony, I was curious to see how much of UK GDP (Gross Domestic Product, basically a country's income) comes from the world finance sector, and according to this article in Finance Week, it is only 7-8%.

Finance overall makes up 30% of GDP but most of this is domestic activity.
I stand corrected, I think I was getting mixed up with finance in general and the service sector.

Tony
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