[makeitdouble]

> They're a vote that you think the economy as a whole (us, eu, worldwide) will go up not that particular companies will go up.

That's the sales pitch.

The other side of the coin is any company that is influencial enough to bring part of the market down if it fails will also hold index funds as hostages. The more index funds are chosen the more "too big to fail" companies impact people's savings as a whole.

Whatever you think of the next behemoth being caught red handed doing something egregiously criminal, it's survival will be partly guaranteed by index funds.