Folk Market
I recently came across a stock market for horses. People buy and sell shares in horses in exchange for a percentage of their earnings on the racetrack or in stud.
Immediately, I thought 'What a great idea for people!' There are many extremely clever young children in areas like Southern India or Bangladesh who could never afford a good education - what a waste to society! Instead, we could identify these children through a maths and logic competition and then people could buy shares in them - folk shares - the shares paying for their education. In exchange, the investor would get an appropriate percentage of their earnings later in life for a limited period (let's say a 25 year bond given at 10 years old would provide payback between the ages of 25 and 35)
The 'bond' could also be bought and sold on a folk market, the price going up-or-down as their school results and reports started to come in.
It's an idea.
Immediately, I thought 'What a great idea for people!' There are many extremely clever young children in areas like Southern India or Bangladesh who could never afford a good education - what a waste to society! Instead, we could identify these children through a maths and logic competition and then people could buy shares in them - folk shares - the shares paying for their education. In exchange, the investor would get an appropriate percentage of their earnings later in life for a limited period (let's say a 25 year bond given at 10 years old would provide payback between the ages of 25 and 35)
The 'bond' could also be bought and sold on a folk market, the price going up-or-down as their school results and reports started to come in.
It's an idea.
posted by Economics 101 at
4:37 pm
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