I don’t want to say the secondary market has no direct effect or benefit to the company.
And I agree with your generalities regarding secondary markets. I agree they are a necessary part of the system, and that they need a “certain amount” of access and liquidity.
But I’d also like to recall the phrase “irrational exuberance.”
And what I am looking for: The cause of the nation’s economic-based problems. I discuss it in the article I linked. Here is that link again:
I point out in the article that income disparity and the shrinking middle class is not due to higher CEO salaries. And that Jeff Bezos, a creator, is also not to blame.
The blame is somewhere though. I say it is secondary markets run rampant (gross simplification and figurative).
What do you say? What is the UNDERLYING cause of increasing US poverty and diminishing middle class?