Piggybacking on what star_wraith said, the purpose of a 401k is financial security, and it doesn’t give people who have them any meaningful control over companies or the economy. Putting people with 401ks in the same category as the wealthy capitalists who own and control large businesses is completely absurd imo.
I think it depends on what the alternative would be. How many people would prefer a guaranteed retirement instead of having it depend on the whims of the stock market? Quite a few, I’d imagine.
Piggybacking on what star_wraith said, the purpose of a 401k is financial security, and it doesn’t give people who have them any meaningful control over companies or the economy. Putting people with 401ks in the same category as the wealthy capitalists who own and control large businesses is completely absurd imo.
It does however, further weld the self interest of the worker to the growth of the market, in real terms and symbolically.
I think it depends on what the alternative would be. How many people would prefer a guaranteed retirement instead of having it depend on the whims of the stock market? Quite a few, I’d imagine.
It's less about the end alternative than the effect the actions required to move toward that promised alternative have on what you already have.