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by danharaj
2951 days ago
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Sure, they're all beholden to each other but they're the ones who make the decisions about how to allocate the means of production and which labor power to buy. People who derive their income primarily from investments but don't really decide anything or buy labor power are a rung below those who do. Taxonomize it however you want provided the distinction remains. |
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The high-net-worth individual who deposits his capital with an asset manager, or the salaried fund manager who determines which securities to buy with it?
The angel investor who puts $1M of his own money into a fledgling startup, or the entrepreneur who decides how it's spent?
The hedge fund manager who has bought 40% of the company on Wall Street, or the CEO entrusted to make the daily decisions on company operation?
I'm surprised the grandparent post has been downvoted, because when you get close to how capital is actually managed and invested, it's clear that it's a lot less clear than it looks from the outside. Even people who nominally have "control" over capital expenditures are subject to market returns. If they don't invest that capital correctly, they will lose the ability to manage more capital.