No. The 1000 people each have an individual property interest in some percentage of the pension fund.
Is it just possible that the millions of people living in America might have a shared interest in something like civility or a general level of self-discipline?
Not really. At least, not beyond being protected from personal or property damage due to incivility or lack of self-discipline.
You are clearly missing part of the equation. Why did these 1000 people bother to join in the pension fund? Why did they not invest individually and sidestep the fund's fee structure, etc.?
They have an interest in the fund as a whole as well as in their individual investment.
Not really. At least, not beyond being protected from personal or property damage due to incivility or lack of self-discipline.
Incivility and indiscipline can often do unquantifiable damage.
And even when they do quantifiable damage, the cost of that quantifiable damage could have been avoided if someone had intervened in an earleier pattern of destructive behavior.
The fact is, when one person does something wrong, it may be legal, but it can still cause immediate injury to human relationships and create fuel for future damage to human relationships.
People aren't just collections of likes and dislikes and possessions, they also have relationships that transcend that of buyer/seller.