you are so fucking dense

also he literally has a public mandate to get money involved

'edge' is how we make our money on the markets, unless we are playing the venture capital style game, which is how some of those california funds got in trouble

and hes going to earn a % of the gains

so he has plenty of incentive to invest public money

what the fuck are you not understanding about multiple mandates

do you know what a fucking mandate is

a better way(much better way) to invest public money is just to spend the money on the projects the public wants

yes, that can be a mandate!

then there is no need for any other this stuff inbetween

but there is

you jsut give the money to DOT or whatever

and tell them to build roads

not gamble on stock market to get money to build roads

no but the world isnt just roads

unnecessary steps

we need organisations

industries

and part of this process involves exiting occasionally to pursue new goals

dot can spend the money at various contractors if they are trying to spread the economic activity around, etc

no need for any financialization

..........

there is a need for financialisation to some degree, because pecuniary incentives create incentives to grow and innovate

which is something i want

the government is not constrained by that, they can simple fund the contracts and tax the economic activity that results from building the infrastructure

and we're not gambling on the stock market to build roads

you realise a government STILL EXISTS

these public banks exist instead of private ones

sure, the gov existing makes this whole trip even less 'necessary'

no it doesnt though

this kind of stuff is how governments get in trouble. governments shoudl stick to what they do best, which is NOT operating on a profit/loss basis

the whole point of keeping a stock market and professional investors with pecuniary incentives is to keep the structure of society not only intact (historical skillsets are bad to dispel because of unemployment and civil unrest), but also for purposes of innovation and improvement of everyday products with monetary incentives

the incentives of government and taxation really don't support using that model

governments shouldnt operate on profit/loss bases, stop strawmanning this system

to take advantage of having a stock markets, etc, society needs many 'losers', and you dont want your gov fund being one of those and statistically, there is a good chance it will be

government exists SEPARATE to these public banks

and guess what, governments can bail shit out if they need to

they can nationalise shit

that's not a straw man, by putting public funds in these stock market playing banks, you are inviting in the profit /loss system

well if you can do that, why bother with this intermeditate unnecessary step

as i said above