Wrong.
The stock market does generate funds for growth, but through deception and fraud, and only temporarily.
What we should have instead is the ability to fund things voluntarily through voting on communal investments, like how rural areas finance cooperatives.
That is how we fund public schools, hospitals, highways, fire departments, police, etc.
The stock market is the most harmful thing that ever happened to our economy, and constantly causes cyclic bankruptcies, like it did in 1923 crash, and subsequent crashes about ever 15 years or so later.
People borrow to invest in the stock market, but since it actually is not based on any production, but just is paying out only what someone else pays in, it always has to fail on a regular basis.
It is a total fraud and extremely harmful to the economy.