{"id":51374,"date":"2012-12-27T13:00:50","date_gmt":"2012-12-27T18:00:50","guid":{"rendered":"http:\/\/blogs.lclark.edu\/hart-landsberg\/?p=1166"},"modified":"2012-12-24T22:00:17","modified_gmt":"2012-12-25T03:00:17","slug":"owning-the-economy-who-benefits-from-stock-market-rise","status":"publish","type":"post","link":"https:\/\/thesocietypages.org\/socimages\/2012\/12\/27\/owning-the-economy-who-benefits-from-stock-market-rise\/","title":{"rendered":"Who Benefits from a Rise in the Stock Market?"},"content":{"rendered":"<p><em>Cross-posted at <a href=\"http:\/\/blogs.lclark.edu\/hart-landsberg\/2012\/09\/26\/owning-the-economy\/\" target=\"_blank\">Reports from the Economic Front<\/a>.<\/em><\/p>\n<p>The stock market looms large in our understanding of the economy. \u00a0The business news is often little more than a report on the movement of the market. \u00a0High school economics classes often introduce the study of the economy to students by encouraging them to pick and follow a favorite stock.\u00a0 Managers of corporations are judged by how well their actions result in higher stock prices.<\/p>\n<p>All this could easily lead one to think that the great majority of Americans\u00a0are\u00a0stockholders. \u00a0In fact, as the <a href=\"http:\/\/www.epi.org\/publication\/wealth-stock-market-holdings\/\">chart below<\/a> shows, very few Americans own significant shares of stock and therefore directly benefit from the market\u2019s rise.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"http:\/\/blogs.lclark.edu\/hart-landsberg\/files\/2012\/09\/snapshot-stock-wealth.png\" alt=\"\" width=\"464\" height=\"483\" \/><\/p>\n<p>It is easy to understand why the top earners are happy with this identification of the economy with the stock market.\u00a0 It ensures that economic activity is largely organized and outcomes evaluated with their interests in mind. \u00a0What is not so easy to understand is why the great majority of working people continue to\u00a0accept this identification.<\/p>\n<span class=\"ft_signature\">Martin Hart-Landsberg is a professor of economics at <a href=\"http:\/\/college.lclark.edu\/faculty\/members\/martin_hart-landsberg\/\">Lewis and Clark College<\/a>.  You can follow him at <a href=\"https:\/\/economicfront.wordpress.com\/\">Reports from the Economic Front<\/a>.<\/span>","protected":false},"excerpt":{"rendered":"<p>The stock market looms large in our understanding of the economy. \u00a0The business news is often little more than a report on the movement of the market. \u00a0High school economics classes often introduce the study of the economy to students by encouraging them to pick and follow a favorite stock.\u00a0 Managers of corporations are judged [&#8230;]<\/p>\n","protected":false},"author":1853,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[29,23384,36,129],"class_list":["post-51374","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-class","tag-social-construction-discourselanguage","tag-economics","tag-media"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/51374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/users\/1853"}],"replies":[{"embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/comments?post=51374"}],"version-history":[{"count":6,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/51374\/revisions"}],"predecessor-version":[{"id":53222,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/posts\/51374\/revisions\/53222"}],"wp:attachment":[{"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/media?parent=51374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/categories?post=51374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thesocietypages.org\/socimages\/wp-json\/wp\/v2\/tags?post=51374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}