What Would the Consequences Be Of Discontinuing Short Selling via Something Like WallStreetBets?

I’ve been watching the developing story regarding WallStreetBets and the “little man” taking on the “big guys” by purchasing loads of GameStop (and to a lesser extent AMC) stocks forcing large investors to take significant losses to close out their shorts.

I’m curious what would be the consequences – positive and negative – if WSB’s efforts continued making short selling practically impossible. What would the repercussions be on the economy? On the stock market? On life for the average person?

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