- you only own small minority percentage of voting shares of an employing corporation or non-voting preferred shares
- are an employee or you are individually or jointly self-employed as in a worker cooperative.
You’re employing class if you hold large percentages of the voting shares in at least one company
There are two dual risk reduction strategies one of diversification and one of commitment
How do you define ‘large percentage’? Musk owns 22% of Tesla shares whereas small business owners may own 100% of their business. Do you think Musk is more working class then the latter?
Shares are just an asset just like cash. Some people choose to hold their savings in cash. Some people choose to hold them in bonds, some in shares, some in property, and so on.
When I was younger and poorer than I am today, I owned a larger value of shares than I do now because I was still saving up for a deposit on my house. Then I took out my mortgage, bought the house and the value of my ISA dropped to almost nothing as I sold most of the shares to fund my deposit. Do you think I was a capitalist when I was poorer and didn’t own a house, but working class now that I have a mortgage but fewer shares?
The form in which you hold your assets is irrelevant. It’s how much assets you have that counts.
My personal view is the following
You’re working class if
- you only own small minority percentage of voting shares of an employing corporation or non-voting preferred shares
- are an employee or you are individually or jointly self-employed as in a worker cooperative.
You’re employing class if you hold large percentages of the voting shares in at least one company
There are two dual risk reduction strategies one of diversification and one of commitment
@neoliberal
How do you define ‘large percentage’? Musk owns 22% of Tesla shares whereas small business owners may own 100% of their business. Do you think Musk is more working class then the latter?
Shares are just an asset just like cash. Some people choose to hold their savings in cash. Some people choose to hold them in bonds, some in shares, some in property, and so on.
When I was younger and poorer than I am today, I owned a larger value of shares than I do now because I was still saving up for a deposit on my house. Then I took out my mortgage, bought the house and the value of my ISA dropped to almost nothing as I sold most of the shares to fund my deposit. Do you think I was a capitalist when I was poorer and didn’t own a house, but working class now that I have a mortgage but fewer shares?
The form in which you hold your assets is irrelevant. It’s how much assets you have that counts.
Enough of a percentage where you could get the ball rolling on a worker coop conversion, but choose not to.
Musk has 79% voting control over SpaceX.
Employment-based corporation’s executives potentially aren’t working class.
From a worker coop perspective, managers are working class. However, from a union perspective, management is not working class.
The form matters since some forms are unjust and involve appropriating the positive and negative fruits of other people’s labor
@neoliberal