BEND, Ore., Sept. 26, 2018 /PRNewswire/ -- Internet startup, Schock Market, Inc. (www.schockmarket.com) will seek to auction off the public school systems of Oregon, Washington, and California—for half a trillion dollars. Success would extrapolate to a $3.5 trillion sale for public schools nationwide.
The auctions are being managed through newly-conceived reservation markets. These markets have been pioneered by Stanford University graduate, Spencer Schock. Schock hopes U.S. Secretary of Education, Betsy DeVos, will support the experiment.
The markets are designed to unfold in phases.
In the first phase, individuals and businesses register as investors at www.schockmarket.com/Profiles/Register. Investors attempt to predict savings that may be achieved by privatizing government agencies. When investors guess well, they may earn payouts, potentially in the millions of dollars.
In the second phase, corporations bid on these same government agencies. In the case of schools, corporations will bid to purchase and operate public schools within a state.
During this second phase, proceeds from privatization are revealed to taxpayers. The California K12 market, for example, could conceivably reap $436 billion for California citizens. If so, every Californian would receive a check for $11,000.
In the final phase, completed markets are approved through statewide voter initiatives. These initiatives are backed by winning corporations as well as investors and taxpayers seeking the payouts described above.
Schock suggests that democratic societies fail to embrace innovative solutions, often due to uncertainty associated with free markets. This hesitation causes voters to choose safe, but underperforming, government services over free markets.
Reservation markets resolve this problem by providing a high definition look into the future of a proposed market. It is important to note that reservation markets do not model a future outcome. Instead, reservation markets are the future outcome. Schock achieves this distinction by replacing a single financial transaction, with a multitude of reservations.
Schock suggests knowing market winners in advance will provide citizens with an opportunity to privatize much of the public sector, including schools. Says Schock, "Reservation markets represent an opportunity to reboot Western civilization . . . and earn a windfall profit, for everyone, while doing so."
Individuals and businesses may invest at Schock Market for $3 per month.
The site opens with three education markets: Oregon K12, Washington K12, and California K12. The potential taxpayer payout for each is $36 billion, $69 billion, and $436 billion respectively.
SOURCE Schock Market, Inc.