Legislative Package Introduced to Encourage Employee-Owned Companies

https://www.commondreams.org/views/2017/05/11/hacking-american-dream-progressive-senators-go-big-worker-ownership Obviously this bill has no chance of passing the current congress, but a sign of future potential opportunities? Additionally, this legislation is modeled after the Vermont Employee Ownership Center, maybe something worth discussing in detail in the future if you haven't already? (If you have already, I'd love to read or listen!) Thanks! Big fan

Official response from submitted

I have spoken in general terms a few times about the positive step represented by worker ownership via ESOPs etc. So I will support this bill and do so publicly. However, my focus is somewhat different - or perhaps, better said, goes further. By that I mean that for me worker ownership is half the battle. The other half is to transform the workplace into a democratic community that makes all the key enterprise decisions: what, where, and how to produce and what to do with the net revenues. Too often, when workers acquire ownership, they continue to leave the running of the enterprise in the hands of boards of directors and resign themselves to being nothing more than shareholders (adding ownership to their subordinated place inside the enterprise and its decisions and operations). The social change modern society needs to seriously address its mounting problems requires the full democratization of the workplace: ownership by workers, yes, but crucially also the real control and direction of production.

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  • Richard Wolff
    responded with submitted 2017-05-12 10:37:20 -0400
  • C Blake
    published this page in Ask Prof. Wolff 2017-05-11 20:40:05 -0400