Episode 24: Is Passive Investing Worse Than Marxism?

Carlos and Bob tackle a recent "note" from a brokerage firm making just that case. Among other problems, the analysis misunderstands the role of the stock market.

Mentioned in this episode:

Bloomberg article explaining the note
Murphy explains the social function of stock speculators
How Privatized Banking Really Works, Chapter 4 (PDF)
Samples from the Lara-Murphy Report
Order Carlos and Bob's book, HOW PRIVATIZED BANKING REALLY WORKS