Re: A Challenge To All Extropians

Warrl kyree Tale'sedrin (
Sat, 2 May 1998 16:59:45 +0000

> From: Paul Hughes <>

> > Outside of that, the claim that 94% of *other* wealth is owned by the
> > richest 20% even begins to be plausible only if one excludes pension
> > funds and mutual funds from consideration. Since pension funds and
> > mutual funds collectively own over half the stock and bond markets,
> > this is obviously a major exclusion and needs to be justified.
> As far as I know, the figure quoted by NPR last week does include those pension and mutual
> funds. You are also neglecting the fact that any poor person statistically has a lot less
> invested in any particular mutual fund than a rich person. So these types of percentages
> and ratios can still remain.

Hm... this would mean that the richest 20% account for in excess of
80% of all pension-fund holdings.

Sorry, I don't buy it.
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