First, your stat ignores pension plans. Second, the bottom 60% might only own 0.1% of all equities, but that might be 50% of their savings/pension plan. I'd call that "skin in the game".
First, your stat ignores pension plans. Second, the bottom 60% might only own 0.1% of all equities, but that might be 50% of their savings/pension plan. I'd call that "skin in the game".
That one worker? If stock prices go up he will end up perhaps 1 more month's worth of retirement savings. Meanwhile his wages are being held down and the value he creates with his labor is being spent on stock buybacks and executive pay, the benefits of which go overwhelmingly to the other 999 people.
And yes, the stat includes pension plans.
So sure, the one guy has skin in the game. His wages have been held down, and in exchange he gets a fistful of coupons that entitle him to a few bucks for every million given to capital owners.
Wide scale elimination of pensions started in the 2000’s. Millions of people still have pensions in the US.