Recently, I've been toying with the idea of assigning individuals personal stocks as a potential adjustment to our current economic system, and I was wondering if I could get your take on the idea, which was originally developed by the Kollin brothers.
The basic premise is thus: Each individual is assigned a set of personal stocks. The government gets 5%, parents receive 20%, and the individual has the rest, and would be required to own at least 35% of themselves at any given time. The ability to buy and sell shares from other people-corporations would result in individuals literally investing in each other, which would ideally facilitate an environment in which people care for each other more effectively than altruism. Stocks could be sold off to gain capital in order to purchase education or equipment for a business, etc... which is very similar to a loan but for the fact that normal people can be involved, as opposed to only large financial entities. The individual would start off owning 75% of their shares, and any sales would be voluntary.
Thank you in advance for your time. Any opinion you could give me would be greatly appreciated.
1 Answer from Attorneys
Not a legal question, although legal questions may be implicated. I guess your thinking of creating some form of social networking site. Have fun!
Valuation of shares would be tricky.
13th Amendment prohibits slavery (honestly I never thought I would be able to reference the 13th Amendment as part of any form of legal opinion) and could be implicated in "owning" persons.
Statements made by me here are not legal advice, nor is an attorney-client relationship formed. Presumably post here was done in jest, and responded to in kind.