Public stock markets aretoosmall. The lack of companies with publicly-tradedshares creates manyproblems.Ifpublicly-traded shares are scarce, valuationsare higher and thereisanincreased risk of bubbles. The lack of companieswith publicly-traded shares can increase financial inequality,because retail in-vestors are excluded from privatestock markets.Itcan alsomake itmore difficultto fund futurepe…
Military and civil spheres are more or less isolated enclaves in our present-day Western world. Soldiers live and operate separate from the rest of the society, and, besides the annual parades and the possible compulsory military service, these two worlds have little contact. Wars are even more remote incidents, as they are mostly fought in far-away countries.In …