21023 Article(s) by: Abigail Torre

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Abigail Torre grew up in Chile and now lives in Berkeley, California where she is cochair of the East Bay chapter of Democratic Socialists of America.

The Response to the GameStop Fiasco Shows It’s Still Wall Street’s Economy

Now that hedge funds are losing billions to Redditors buying stocks like GameStop, Wall Street wants heavy-handed intervention into the market, and brokerages have clamped down on the upstarts. It’s a reminder that there’s no such thing as “people’s capitalism” or “shareholder democracy” — the capitalist economy is structured to do what’s best for the business elite.