Yes, but that definion isn’t that clear cut anymore as it was during the industrial revolution. Common people have pensions, i.e. stocks. Workers ‘invest’ in their home as real estate. Executive managers can be still just workers even if they make a million bucks. The analysis isn’t that cut and dry if lots of people have investments on top of their wage job. Everyone not living hand to mouth is a kind of petit-bourgeoisie. The vast majority are not proletariat anymore.
I don’t want you to think I’m anti-leftist, because I definitely support significant redistribution and an end to capitalism. Just want people to think a bit further than mid-19th century definions and analysis which I think no longer hold. Alternative suggestions are welcome
I think the definition of working class is still pretty simple regardless of modern financial complexities. If you rely on a paycheck to make a living you are proletariat. If you own enough capital that you don’t have to work, congrats, now you are petit bourgeois.
If you can’t quit your job and live off your investments and previous earnings, you are firmly in the proletariat.
Lumping in those who day trade on T212 with those buying into investment schemes at the clubhouse isn’t helpful. “It’s a big fucking club” and it’s pretty obvious whether you’re in it or not.
Just want people to think a bit further than mid-19th century definions and analysis which I think no longer hold.
Yeah, one of the things that really shaped my views on fairness in wealth distribution was studying corporate law (and the legal cases that shaped what Delaware corporate law is today). That history adds a lot of complexity to figuring out who is the “owner” class and who is the “labor” class. Highly compensated executives often have their shareholders over a barrel, and the legal system is designed to protect management from shareholders, so long as the corporation makes some minimal token gestures towards shareholder value. In practice, shareholders have very limited means of controlling a corporation (mainly by electing directors, who tend to be officers/managers of other companies and sympathize with managers and give quite a bit of leeway when only part time supervising the officers they often play golf with).
And we can see this play out in the modern era. We have a bunch of wannabe finance bros, hopeful future millionaires, talking about financial topics and cheerleading their heroes (CEOs and founders), often being willing marks in financial investment scams. They believe that holding capital will help them survive further divergence between the haves and the have nots, but history shows that when push comes to shove, only power matters. No amount of accumulated wealth can protect against power, and those with power can always use that power to enrich themselves.
So I don’t find it particularly useful to draw bright lines on who is or isn’t the enemy based on their financial situation. We should recognize the power structures themselves, and how power is exercised (politically, financially, legally, culturally, and the old standby, violently), and work to influence things through those levers (including the power to change the levers themselves).
Yes, but that definion isn’t that clear cut anymore as it was during the industrial revolution. Common people have pensions, i.e. stocks. Workers ‘invest’ in their home as real estate. Executive managers can be still just workers even if they make a million bucks. The analysis isn’t that cut and dry if lots of people have investments on top of their wage job. Everyone not living hand to mouth is a kind of petit-bourgeoisie. The vast majority are not proletariat anymore.
I don’t want you to think I’m anti-leftist, because I definitely support significant redistribution and an end to capitalism. Just want people to think a bit further than mid-19th century definions and analysis which I think no longer hold. Alternative suggestions are welcome
I think the definition of working class is still pretty simple regardless of modern financial complexities. If you rely on a paycheck to make a living you are proletariat. If you own enough capital that you don’t have to work, congrats, now you are petit bourgeois.
If you can’t quit your job and live off your investments and previous earnings, you are firmly in the proletariat.
Lumping in those who day trade on T212 with those buying into investment schemes at the clubhouse isn’t helpful. “It’s a big fucking club” and it’s pretty obvious whether you’re in it or not.
Yeah, one of the things that really shaped my views on fairness in wealth distribution was studying corporate law (and the legal cases that shaped what Delaware corporate law is today). That history adds a lot of complexity to figuring out who is the “owner” class and who is the “labor” class. Highly compensated executives often have their shareholders over a barrel, and the legal system is designed to protect management from shareholders, so long as the corporation makes some minimal token gestures towards shareholder value. In practice, shareholders have very limited means of controlling a corporation (mainly by electing directors, who tend to be officers/managers of other companies and sympathize with managers and give quite a bit of leeway when only part time supervising the officers they often play golf with).
And we can see this play out in the modern era. We have a bunch of wannabe finance bros, hopeful future millionaires, talking about financial topics and cheerleading their heroes (CEOs and founders), often being willing marks in financial investment scams. They believe that holding capital will help them survive further divergence between the haves and the have nots, but history shows that when push comes to shove, only power matters. No amount of accumulated wealth can protect against power, and those with power can always use that power to enrich themselves.
So I don’t find it particularly useful to draw bright lines on who is or isn’t the enemy based on their financial situation. We should recognize the power structures themselves, and how power is exercised (politically, financially, legally, culturally, and the old standby, violently), and work to influence things through those levers (including the power to change the levers themselves).