According to the constant business-page reminders, half the United States population now owns stock, either directly or through pension plans and mutual funds. Despite occasional blips, the gloaters tell us the future is rosy, at least for those who have the money and guts to log on to E-Trade. Regardless of the economy's true state of affairs, however, it's the stock market mania itself that may be the ultimate capitalist tool, one that too many progressives are tempted to pick up and try to use. We should know better, and we should do something about it.
Progressives can identify the fallacies in the thickening media haze.
We know that individual stock portfolios won't end injustice. Some people get rich at the expense of many others who remain poor and exploited. Vast segments of the population don't have the means, the education, or the energy to invest. And we know that the corporation is a recipe for social irresponsibility. Sure, we may lose our investment, but we won't be sued and we won't go to prison.