>Index funds don't do anything to help this - just cause it's a bigger group of strangers stealing the products of the worker's labor doesn't make it any less exploitative.
I had a hard time understanding this, but I think I got it.
You are saying that if I work for, say, Xerox, I should own a portion of Xerox, because their capital belongs to me, because I use it to create value.
This is better, you are saying, than me owning an index fund that has a little of every company. Because if I do that, then I am exploiting all the workers in all the other companies.
As a self-contained system of belief, I guess it has a certain logic to it.
But if Xerox goes down the tubes then I don't want to lose my job and all my retirement savings!
I also think I see an inconsistency. If owning part of another company is exploiting their workers, then I should also be concerned that any form of ownership by workers at my company could involve exploitation.
Simply because we do different jobs using different amounts and types of capital. Averaging things out must be exploitation of workers by workers in the same way as owning mutual funds and such.
I had a hard time understanding this, but I think I got it.
You are saying that if I work for, say, Xerox, I should own a portion of Xerox, because their capital belongs to me, because I use it to create value.
This is better, you are saying, than me owning an index fund that has a little of every company. Because if I do that, then I am exploiting all the workers in all the other companies.
As a self-contained system of belief, I guess it has a certain logic to it.
But if Xerox goes down the tubes then I don't want to lose my job and all my retirement savings!
I also think I see an inconsistency. If owning part of another company is exploiting their workers, then I should also be concerned that any form of ownership by workers at my company could involve exploitation.
Simply because we do different jobs using different amounts and types of capital. Averaging things out must be exploitation of workers by workers in the same way as owning mutual funds and such.