4 ms·
First, intended or not there is an incredible amount of privilege in the idea that “everyone can be a shareholder”. An awful lot of Americans live paycheck-to-p
by jmyeet 3y ago
First, intended or not there is an incredible amount of privilege in the idea that “everyone can be a shareholder”. An awful lot of Americans live paycheck-to-paycheck and struggle to afford housing and food. Increasing homelessness is, first and foremost, a consequence of housing unaffordability.
Second, owning 10 shares of Amazon doesn’t make you a capital owner. If you still need your paycheck to survive, you’re a worker, subject to the whims of your employer.
The really damaging thing about retirement accounts, for example, is that it has convinced people that they are current or future capital owners. It makes workers advocate against their own best interests.
- mamonster 3y agoI dare say that Americans not being able to afford housing has very little to do with Walmart or Amazon, since it was neither that decided to turn housing into a very safe and investable financial asset, but rather the government. The definition of capital owner being someone who doesn't need a paycheck to survive is weird. Your average startup founder needs a paycheck and he is clearly not a simple worker. As soon as you own shares in a company(or a bond) you are a capital owner. The question is then how much that capital is worth and what you can do to make this capital worth more.