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A comment on The wealthiest 10% of Americans own a record 89% of all U.S. stocks. Parent comment

Re:The wealthiest 10% of Americans own a record 89% of all U... by j_walter on Monday October 18, 2021 @11:33AM (#28906514)
You could also argue that 0.1% is directing all of the laws surrounding our economy...and those are our elected leaders. I'm not sure they are any better at figuring out where to direct the resources than those 10% are.
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Re:The wealthiest 10% of Americans own a record 89% of all U... by Grustaf on Monday October 18, 2021 @11:34AM (#28906534)
Yeah, 0.1% are directing the laws, but they are not our elected leaders. They are the unelected leaders of the largest corporations.
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Re:The wealthiest 10% of Americans own a record 89% of all U... by r00fus on Monday October 18, 2021 @11:37AM (#28906583)
Haha, keep going. It's not even the leaders of said corporations. They report to the Board of Directors and they in turn report to the investors.

The wealthy who own large portions of the controlling interest in these companies are sometimes the visible leaders of said corporations, but many of them live out of the limelight and control the rest of us with puppet strings.

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Re:The wealthiest 10% of Americans own a record 89% of all U... by ldiracdelta on Monday October 18, 2021 @11:50AM (#28906787)
Don't forget un-elected lifetime bureaucrats.
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Re:The wealthiest 10% of Americans own a record 89% of all U... by afavour on Monday October 18, 2021 @11:34AM (#28906531)
> and those are our elected leaders

Kind of an important caveat, no? It’s the entire principle behind having a democracy.

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Re:The wealthiest 10% of Americans own a record 89% of all U... by SketchySeaBeast on Monday October 18, 2021 @11:47AM (#28906730)
You know, when you say it like that it really just makes sense and is working as intended.
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Re:The wealthiest 10% of Americans own a record 89% of all U... by jakelazaroff on Monday October 18, 2021 @11:46AM (#28906726)
> You could also argue that 0.1% is directing all of the laws surrounding our economy...and those are our elected leaders.

If they're doing a bad job, the recourse (at least in theory) is to elect better leaders. What recourse do we have when the rich abuse their power?

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Re:The wealthiest 10% of Americans own a record 89% of all U... by j_walter on Monday October 18, 2021 @01:55PM (#28908486)
In theory...but despite the sub 20% approval rating of congress over the last decade the same people keep getting voted into power. If you don't like the rich abusing their power...don't buy their product. Does it suck to not use Amazon...sure, but making an impact is not easy.
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