[munksbeer]

That is only pension funds. By far the largest indirect holds of US stock are households, via retirement accounts, mutual finds, ETFs, etc.

Yes, I agree, wealth inequality is massively skewed. But that is a different argument. In the end, if productivity increases and share prices go up, you and I are share holders (I presume you're saving for retirement), and we benefit. As does virtually every other person saving for retirement in the market.

Again, inequality is real, and is going to have to be addressed, but it is not the argument here.

[Arn_Thor]

Look, we are shareholders, but I showed how so much of the value generated by increased productivity never reaches listed companies, let alone their dividends. THAT is the key argument