[triceratops]

> I suspect you wouldn't put them in the same group as "people who have hoovered up the majority of wealth" or whatever.

59% of Americans have a 401k or other retirement account.[1] They accumulate capital so they don't need to work when they're old. A small fraction of them are the "Reddit FIRE" types.

The top 1% own more than 50% of all equity in private and public companies.[2] They and their kids and maybe grandkids don't need to work to live.

Would you put both in the same group? Other than "owns productive assets" they don't have that much in common.

1. https://news.gallup.com/poll/691202/percentage-americans-ret...

2. https://www.investopedia.com/financial-edge/1212/average-net...

[gruez]

From my original comment: >Is "Capital" just a slur to be used against owners of capital you don't like, or you think have too much?

[triceratops]

I wasn't aware it was a "slur" as much as it was a statement of fact. A tiny minority has disproportionate control over our economy and everyone else's lives. Depending on your ideological leanings you may find that ok or not ok.

Others (retirement savers) using the same tools as that minority doesn't make them the same as that minority. Degree of control matters. That's what I was responding to.

"You know the difference between a millionaire and a billionaire? About a billion dollars"

[mistrial9]

> 59% of Americans have a 401k or other retirement account

self-reported ? also, substantial numbers of adult people fall into various classifications that definitely do not have such a thing. Are those not counted at all ? also, how is it so precise with no caveats, callouts or error bars ?!

BS

[triceratops]

Gallup is pretty good at polling. If you have a better source, by all means show it.

[bigbadfeline]

Gallup doesn't poll capital but retirement accounts- a lot of those are invested in cash and cash equivalents - CDs, bonds, etc. That's not the capital-as-control which we're discussing here.

More importantly, the 401k-s invested in the stock market aren't capital either but they do provide intermediating third parties with controlling power without any assurance that it will be used in the interest of the account holders - pretty much like bank accounts work.

Thus, 401k holders are not holders of capital, they only notionally own a share of pooled assets which are controlled by third parties for those parties' own ends and connections - mutual funds, banks, etc.

[triceratops]

> That's not the capital-as-control which we're discussing here.

I feel you. I'm saying the exact same thing all over this thread.

> 401k holders are not holders of capital

There's capital and Capital. All 401k holders own capital. But the run of the mill retirement saver has no outsize influence on politics or business beyond what's available to a private citizen. Capital, with a capital C (haha!) controls both.