Re:Amazon rolls out machines that pack orders and replace jobs
by tathougies on Monday May 13, 2019 @01:50PM
(#19901800)
> Are you revering to the stock market?
What else would I be referring to?
> Just because half of adults own stock doesnt mean they own a good portion of these companies
Most people invest in mutual funds, which do own a significant portion of the largest corporations. This is fine; most communist systems in practice allow for private ownership of smaller businesses.
> Remember the richest 1% own 35% of the wealth.
This is true, but communism refers to the communal ownership of the means of production. In practice, communist societies typically end up with some small group of people having an outsized influence on the means of production. Although nominally, they own an equal share of them, this is in name only. By all metrics of control, they own a larger share. My guess is that the US (and free market systems in general with widespread ownership) is probably more egalitarian in that regard.
What else would I be referring to?
> Just because half of adults own stock doesnt mean they own a good portion of these companies
Most people invest in mutual funds, which do own a significant portion of the largest corporations. This is fine; most communist systems in practice allow for private ownership of smaller businesses.
> Remember the richest 1% own 35% of the wealth.
This is true, but communism refers to the communal ownership of the means of production. In practice, communist societies typically end up with some small group of people having an outsized influence on the means of production. Although nominally, they own an equal share of them, this is in name only. By all metrics of control, they own a larger share. My guess is that the US (and free market systems in general with widespread ownership) is probably more egalitarian in that regard.