A Thing I Do Not Understand about Progressives
Here’s a thing I don’t get: Why aren’t way more progressives putting money into the stock market, and then politicizing the hell out of it?
I hear again and again that capital is eating up all the returns in this country. For the last few years that’s certainly been true. Well, do you want a piece of that? Buy stocks.
I hear that the wealth is all going to the very richest. Granted. But why is that? It’s because they, and not you, buy stocks. But nothing’s stopping you.
I hear that corporations behave abominably. But you know who gets to change that? Shareholders.
So why aren’t you folks on the left organizing, buying up equity, and making a difference in all kinds of ways? I’m curious. A committed left-equity club that focused its efforts properly could do all kinds of potentially valuable things, all while raising the savings rate, helping to preserve the middle class, and building — if you will pardon the cheeky expression — some real class solidarity. (Yes, it would mean becoming capitalists. Perhaps this is what makes it objectionable?)
Note that I am uninterested in any answer that amounts to “People are just too poor to buy stocks.” If you are too poor, then the question isn’t aimed at you. There is still plenty of middle class left in this country, and for the price of just a couple of restaurant meals a month, they could easily be making a difference in the world and in their own long-term financial outlook.
So why not?