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View Full Version : Public trading and the ownership of the MoP



Veovis
12th March 2012, 03:50
How does public trading of stocks and bonds relate to the ownership of the means of production from a Marxist viewpoint? Marxism places people into one class or the other depending on their relationship to the means of production, but what happens if a factory worker has a retirement account tied to mutual funds? Is it simply a matter of whether someone makes more money from wages or from dividends?

NewLeft
12th March 2012, 04:52
If value can only be created by human labour, then wouldn't workers who invest in their pension funds be regaining part of their surplus that they produced? This is a meager amount, but with mutual funds they would also partly 'own' the means of production too.

Veovis
12th March 2012, 05:26
If value can only be created by human labour, then wouldn't workers who invest in their pension funds be regaining part of their surplus that they produced? This is a meager amount, but with mutual funds they would also partly 'own' the means of production too.

Right, but mutual funds (this is only an example) are tied to stocks of several different companies, not just the company the employee works for.

NewLeft
12th March 2012, 05:36
Right, but mutual funds (this is only an example) are tied to stocks of several different companies, not just the company the employee works for.
But isn't surplus extracted collectively as well?

Revolution starts with U
12th March 2012, 06:10
A few stocks give no meaningful control, and as such no real ownership claim, over productive capacity. The pensions of nearly all workers are more akin to a high yield savings Acct, than an actual profit from stock.