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Retirement savings, IRAs, and pensions tend to make many people minor owners of capital.

vkou 7y ago
Most Americans have less than a year's wages invested into capital, and won't be receiving a lick of pension upon retirement. If you look at the developing world, the situation is even bleaker. So, as far as ownership structures of capital go, for 95% of the population, it is a rounding error. Also, damages that required liability doesn't just magically disappear, if you fail to pass it on to a company's owners. The harm that caused the liability has already been done, the shareholders have already been paid from the profits of it - but the victims aren't getting compensation for it. In any just world, these profits would be clawed back.
- abakker 7y ago
  I think you are right - https://www.cnbc.com/2018/05/11/how-many-americans-have-no-retirement-savings.html https://www.cnbc.com/2018/05/11/how-many-americans-have-no-r... - so, I guess I should have said "some people" have capital.
- pathseeker 7y ago
  >Most Americans have less than a year's wages invested into capital, That's still investment. Make up your mind on if an investment implies criminal and financial liability or not. >and won't be receiving a lick of pension upon retirement. That's because pensions aren't very popular in the US. You should look into IRA's, 401ks, etc to understand how the current working class has to prepare for retirement. Pensions (at least the ones that used to be popular in the US offered by companies) are complete garbage for the very reason that they can be raided. >The harm that caused the liability has already been done, the shareholders have already been paid from the profits of it No, it's actually pretty rare for modern companies to immediately issue all profits to shareholders as dividends. >In any just world, these profits would be clawed back. Well the company gets hit with a huge fine and all of the shareholders (and bondholders in bankruptcy) lose their investment. It's very rare to find a company that did something illegal long enough to generate 100% dividends to cover the initial shareholder investment and then get caught and wiped out.

vkou 7y ago

Most Americans have less than a year's wages invested into capital, and won't be receiving a lick of pension upon retirement. If you look at the developing world, the situation is even bleaker. So, as far as ownership structures of capital go, for 95% of the population, it is a rounding error. Also, damages that required liability doesn't just magically disappear, if you fail to pass it on to a company's owners. The harm that caused the liability has already been done, the shareholders have already been paid from the profits of it - but the victims aren't getting compensation for it. In any just world, these profits would be clawed back.

abakker 7y ago
I think you are right - https://www.cnbc.com/2018/05/11/how-many-americans-have-no-retirement-savings.html https://www.cnbc.com/2018/05/11/how-many-americans-have-no-r... - so, I guess I should have said "some people" have capital.
pathseeker 7y ago
>Most Americans have less than a year's wages invested into capital, That's still investment. Make up your mind on if an investment implies criminal and financial liability or not. >and won't be receiving a lick of pension upon retirement. That's because pensions aren't very popular in the US. You should look into IRA's, 401ks, etc to understand how the current working class has to prepare for retirement. Pensions (at least the ones that used to be popular in the US offered by companies) are complete garbage for the very reason that they can be raided. >The harm that caused the liability has already been done, the shareholders have already been paid from the profits of it No, it's actually pretty rare for modern companies to immediately issue all profits to shareholders as dividends. >In any just world, these profits would be clawed back. Well the company gets hit with a huge fine and all of the shareholders (and bondholders in bankruptcy) lose their investment. It's very rare to find a company that did something illegal long enough to generate 100% dividends to cover the initial shareholder investment and then get caught and wiped out.