Petty bourgeoise people derive most of their income from their capital while not significantly controlling the economy or politics. There are two ways to look at the retirement account: 1) principally as interest-bearing capital, 2) as deferred compensation with more ideology.
I am somewhat inclined towards 2) since A) very few pensioners ever have enough capital available to start a business and become capitalists in earnest and B) the withdrawal rules make large investments very difficult. That said, someone with a juicy 401k or anxiety about getting their 401k juicy is being conditioned to care about the market whereas someone with a traditional pension has a layer of separation.
Petty bourgeoise people derive most of their income from their capital while not significantly controlling the economy or politics. There are two ways to look at the retirement account: 1) principally as interest-bearing capital, 2) as deferred compensation with more ideology.
I am somewhat inclined towards 2) since A) very few pensioners ever have enough capital available to start a business and become capitalists in earnest and B) the withdrawal rules make large investments very difficult. That said, someone with a juicy 401k or anxiety about getting their 401k juicy is being conditioned to care about the market whereas someone with a traditional pension has a layer of separation.