Having No stock market?

[Philip N]

You can reduce dependency on stock market in many ways. One common strategy is to put your crucial money in safe investments such as t-bills and crazy money in stock market. That way you can get the advantage of a stock market's gains without worrying you will be ruined.

Even if there were no stock market, companies can still get themselves in similar troubles with debt, causing job losses, etc... You'd have to eliminate all sorts of loans if you want to secure against that happening, but you will also harm economic growth (in other words, many of those companies and jobs won't exist in the first place). No risk, no reward.