60% in market: Gallup

Doug Henwood dhenwood at panix.com
Tue Nov 2 11:17:45 PST 1999

Miles Jackson wrote:

>Okay, so why don't they report the fact that 90% of the stock wealth
>is owned by about 10% of stockholders? Are they too lazy to mention
>this, or could there be political reasons for sweeping this objective
>fact under the rug?

Both. The 90%/10% figure comes from a different report. You'd have to look it up. Lot easier to rewrite a press release than do real research. A conscientious reporter might call up Ed Wolff - if the reporter knew who Ed Wolff is - for a comment, and Wolff might make that point, and the reporter might or might not include the quote. A lazy, uncurious, or overworked reporter might not have the time or inclination to make the call.

I think the ideology operates at the level of it not even occurring to the reporter to ask a question about distribution. Sure there are cases of outright censorship - I've heard stories about newspaper reporters who weren't allowed to write critical material about Mexico in the run-up to the '94-'95 crisis - but it also operates at a preconscious level. We just *know* the U.S. is a universally middle-class society, and figures like Gallup's prove it!


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