Quote:
Originally Posted by Willravel
Yes, but GM is just one massive failure among many. Asset ownership is bunched at the very top of income distribution, certainly you can't argue that's not the case.
I know you're a free market capitalist, but surly you can see where there could be a problem with having a small group of individuals owning most of the wealth to an overall society.
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Why are you ignoring a flaw in the data you cite? Reading the report they clearly explained what they excluded and I gave an example where the ownership of a major corporation is in essence flipped to the advantage of the "working class". I also gave the benefit of using market capitalization compared to actual shareholder equity as measured in the balance sheet which is negative. Investors who "own" GM actually own nothing, a big zero.
In terms of me being a capitalist, I think the goal of everyone should be to own income producing assets. I think wealth would in fact be more evenly distributed if more people participated in capitalism. People who don't save and invest only relying on their labor, will by definition end up with nothing. Even if I agree with your premise, I disagree with your answer.