I worked for an “employee owned” corporation. It’s more of a tax shelter than an equitable model. The problem is they gift the executives so much stock that the amount any employee has is laughable.
Worker coops are certainly less exploitative than standard businesses, but compared to public ownership and coordination retains a lot of the limits of market-based systems. I think cooperatives can serve as a good section of a growing and developing economy, but in all likelihood will need to be phased out as competition dies out and public planning becomes more efficient.
I think profits are fine, as long as every company is strictly a worker owned co-op.
I worked for an “employee owned” corporation. It’s more of a tax shelter than an equitable model. The problem is they gift the executives so much stock that the amount any employee has is laughable.
Worker coops are certainly less exploitative than standard businesses, but compared to public ownership and coordination retains a lot of the limits of market-based systems. I think cooperatives can serve as a good section of a growing and developing economy, but in all likelihood will need to be phased out as competition dies out and public planning becomes more efficient.
Even if those profits are distributed as shares to the employees. Those who put in the most effort end up with the smallest share.