Equity market (or any other market based on real value) by itself is not a Ponzi scheme. It's how it's players operate is what makes it a Ponzi scheme. The real question is, how does one remove the manias out of the stock market??? You can't change human nature, and there is free choice, one can buy or one can refuse to buy. Part of the problem is the current system of credit cycle headed by the Fed.
life is one big ponzi scheme. lol loaded up on material goods that equates to nothing in the end. but sure is nice to have lol