Sorta, but it neglects to mention the bottlenecks where power concentrates. There are really only 3 companies in the US that manage retirement funds, and they all own a decent bit of each other.
Also 90% of stock is owned by the top 10% of Americans, so average folks retirement funds don’t have the power you might naively assume they do.
Sorta, but it neglects to mention the bottlenecks where power concentrates. There are really only 3 companies in the US that manage retirement funds, and they all own a decent bit of each other.
Also 90% of stock is owned by the top 10% of Americans, so average folks retirement funds don’t have the power you might naively assume they do.