On the proposal to reform capitalism.

How do we transition from the current system characterized by CEO controlled mega transnational corporations to ones where workers will have more participation in corporate decision making?

Official response from submitted

"More participation" is a term that covers many possibilities. In Germany for years they have had a law that requires all enterprises with over 2000 workers to give just under half the seats on the Board of Directors to workers elected by workers. That is way more "participation" that you find in the US. Other countries, especially in Europe, have variations on this model. Another way to look at it is to ask how large the segment of an economy is that consists not of conventional, top-down capitalist corporations but rather of worker coops. In Spain, because of the Mondragon Cooperative Corporation, that segment is large. In the Emilia-Romagna region of Italy, about 40 % of the economy is cooperative, and so on. If we in the US want to catch up to such places, we might best pursue both paths: pressing for worker participation on boards and also pressing for the kinds of support for a significant worker coop sector of the US economy and the British Labor Party has announced for the UK.

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  • Lovell Natabio
    commented 2016-12-12 22:48:16 -0500
    Thank you Dr. Wolff. Like many others, I too am sick of this rather oppressive system that allows for unmitigated greed on the part of capital owners and casual general disregard for the well-being of ordinary workers of which I am one.

    I understand the gradual cautionary approach given the power of what we are up against which will, undoubtedly, resist any attempt at reforming or altering the status quo.
  • Richard Wolff
    responded with submitted 2016-12-12 14:12:37 -0500
  • Lovell Natabio
    published this page in Ask Prof. Wolff 2016-12-12 12:44:03 -0500