4 ms·
Owning a few slivers of a company doesn't make you nobility. Let's draw a few lines. Do you work for a living or own things for a living? In other words, which
by jjoonathan 3y ago
Owning a few slivers of a company doesn't make you nobility. Let's draw a few lines. Do you work for a living or own things for a living? In other words, which flavor of incentives is predominant in your life? Whenever a company pulls a Scrooge McDuck move, do you own enough shares that on net this benefits you or does it still hurt you like it hurts most? Do you have enough of a stock that it make sense to hire a lobbyist for a 10% chance of pumping its value by 10% (i.e. does lobbying look like an expense or an investment)? Do you always pay 30% income tax or sometimes pay 15% capital gains tax?
For most of these "are you nobility" questions, you can draw a line on a net worth chart where the incentives and privileges are one thing below the line and a different thing above the line. Each question gives you a different line, but for the most part you and I are on one side of the lines and, say, Bill Gates is on the other. It's important to understand that the world is mostly owned by people who feel a structurally different set of incentives from what you and I feel.
- Arnt 3y agoI'm sorry if I wasn't clear. I fully agreee that owning a few slivers of a fund doesn't make people like me nobility. Further, I also don't think pension funds are similar to nobility. They have a lot of money and own a lot of buildings (indirectly through funds), but also a lot of future obligations to a lot of people who aren't any kind of nobility. Their assets don't add up to more than their obligations, certainly not to so much more that the difference can sustain a nobility.