When Stocks Go Up Who Benefits?

dc.contributor.author	Fix, Blair
dc.date.accessioned	2023-11-24T01:18:08Z
dc.date.available	2023-11-24T01:18:08Z
dc.date.issued	2023
dc.description.abstract	Cui bono? For whose benefit? Think of this question as a sword — a sharp piece of steel that cuts through bullshit. In this post, we’ll use it to slice through business-press bullshit about the stock market. You know the stuff — the ubiquitous puff pieces that gush about rising stock prices, as though they benefit everyone. When we ask cui bono, we carve through this BS. We discover that for most people, rising stocks are a tool not for gain, but for administering pain. Looking at the United States, I find that when stocks go up, the vast majority of people see their share of income (and wealth) decline. So here’s the truth about the stock market: it’s a socially sanctioned way to take from the poor and give to the rich.
dc.identifier.citation	When Stocks Go Up Who Benefits? Fix, Blair. (2023). Economics from the Top Down. 28 October. pp. 1-17. (Article - Magazine; English).
dc.identifier.uri	https://hdl.handle.net/10315/41561
dc.language.iso	en
dc.rights	Attribution-NonCommercial-NoDerivatives 4.0 International	en
dc.rights.uri	http://creativecommons.org/licenses/by-nc-nd/4.0/
dc.subject	billionaires
dc.subject	corporation
dc.subject	distribution
dc.subject	ownership
dc.subject	United States
dc.title	When Stocks Go Up Who Benefits?
dc.type	Article

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