On 11/13/06, Doug Henwood <[EMAIL PROTECTED]> wrote:
And much of the "financial claims to the means of production," by which I suppose you mean stocks and maybe bonds, are owned by pension funds on behalf of workers. They're managed by professional money managers, but does that make the portfolio managers the ruling class?
You have stated previously that the Survey of Consumer Finances shows that "much" of stocks (and maybe bonds) are certainly not owned by pension funds on behalf of workers, so I don't know why'd you say that here. Most of the stocks are owned by the 20% or so of the population that Barbara Ehrenreich called the professional/managerial class, with most of it at the very top, and for bonds even more so. Are portfolio managers like Warren Buffett in the ruling class? He is the second wealthiest man in the world, if he's not in the ruling class, no one is.
