When Stocks Go Up, Who Benefits?

Blair Fix

EconStor Preprints from ZBW - Leibniz Information Centre for Economics

Abstract: 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.

Keywords: billionaires; corporation; distribution; ownership; United States (search for similar items in EconPapers)
JEL-codes: D3 G3 P P1 (search for similar items in EconPapers)
Date: 2023
New Economics Papers: this item is included in nep-fmk
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:esprep:279884

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