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Edit: something went wrong with the post order, this should appear under Nassensteins Monster's.
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Nassensteins Monster, nice analysis. However there is something else to consider. The "concentrated" owners aren't the real owners - they control the shares and the voting, but they are likely to be custodians for the true owners - the vast bulk of Australian workers with a Superannuation account. Ownership and control have been separated.
That's right, workers capital is taken from them by government decree (super guarantee levy) out of their paycheck, forced into a system of compulsory savings. The money is deposited into the institutions that you mention, who then vote on the real capital owners behalf, and in many cases against the direct interests of those workers.
To make it simple, workers are forced to save through super funds, once this happens they lose all control and voting rights of those saving, they bear the risks, but without any rights & privileges.
If I were cynical, I could argue its an ingenious scam to "conscript" the capital of the workers for use of those in power to further entrench that power.
Last edited by breakfastburrito; 24th Nov 2011 at 00:26.