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Wouldn't they then buy it just before expiration ?



Exactly, if the clock is ticking for them to bid on it, to buy it off the small business, it gives the small business power, and should also make it easier for the small business to get decent loans/investments.

Btw, if I'm not mistaken, I first read about this proposal in the book "Radical Markets: Uprooting Capitalism and Democracy for a Just Society" by Eric A. Posner and Eric Glen Weyl

https://press.princeton.edu/books/hardcover/9780691177502/ra...




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