And, big fish stock owners help to reduce risk for small quantity stock owners. The big guys get to crowdsource capital for a big project and the small guys get to invest in a variety of big projects without needing to know much about the details of running any of the companies or risking their entire knot on one venture. The modern notion of stock also helps to reduce liability as it legally prevents the stockholders from being held liable for the actions of the company.
This whole discussion is about whether small fish in a mixed market economy have access to the means of production. They do, to a greater extent than ever before in history. Yes, if you only have $3k, you can't control a company that is worth a billion dollars. But you can invest in it, which option was not available before the joint stock company was invented (in the 7th century in Asia and the 13th century in Europe).
401k is also a boon to workers because it allows them to save for retirement by investing in the means of production at a tax advantage.
"who benefits more" is an interesting question but some of us shy away because it invites intersubjective utility comparison and we're not comfortable with the use of cardinal utility to make judgments of that nature.
This whole discussion is about whether small fish in a mixed market economy have access to the means of production. They do, to a greater extent than ever before in history. Yes, if you only have $3k, you can't control a company that is worth a billion dollars. But you can invest in it, which option was not available before the joint stock company was invented (in the 7th century in Asia and the 13th century in Europe).
401k is also a boon to workers because it allows them to save for retirement by investing in the means of production at a tax advantage.
"who benefits more" is an interesting question but some of us shy away because it invites intersubjective utility comparison and we're not comfortable with the use of cardinal utility to make judgments of that nature.