We Went To Nebraska. What We Found Could Unrig The Economy.

[bucolic_frolic]

Worker co-ops could be a solution to the rigged, unequal economy Americans are up against.

We talked to drivers at a rideshare company in Colorado.

They own the company together, and now when they drive a route they make more than 2x what they make driving Uber.

This video features content from Hans Taparia and Bruce Buchanan’s forthcoming book People’s Capitalism. To follow their work and learn more about the book launch, subscribe to https://peoplescapitalism.substack.co...

[multigraincracker]

1. Worker owned businesses are the most efficient

[bucolic_frolic]

2. Because you'll never do anything as well, nor watch the money so closely,

as when you do it for yourself.

[PufPuf23]

3. An Employee Stock Ownership Plan (ESOP) is an option.

BTW the link in the OP doesn't work and I did not watch the video.

Definition
An employee stock ownership plan (ESOP) is an employee benefit plan that gives workers ownership interest in the company in the form of shares of stock.

Key Takeaways
An employee stock ownership plan (ESOP) is an employee benefit that gives workers ownership interest in the company in the form of shares of stock.
ESOPs encourage employees to give their all, tying the company’s success to financial rewards for the employees.
They also help staff to feel more appreciated and better compensated for the work they do.
Companies typically tie distributions from the plan to vesting, which gives employees rights to employer-provided assets over time.

more detail at: https://www.investopedia.com/terms/e/esop.asp

[Bristlecone]

4. Get rid of the eclipses at the end and put in an "m"

It will work then. I got the same results you did.



https://peoplescapitalism.substack.com/

[bucolic_frolic]

6. The link is quite an extended one so I didn't wish to include it.

Copying the video link and visiting the video shows the clickable link.

[bucolic_frolic]

7. But large equity still owns part of the business and returns accrue to those investors, not the workers.

Co-op is more worker owned. You can question if workers have the management expertise to grow the company, but it must be said that many a high-priced business consultant has said his role is to listen to the workers because they are the ones who know the details on how the company is run and products are made and sold. That's what vulture capitalists do when they execute a hostile takeover and trim the head count.

[PufPuf23]

10. Offered ESOP as an alternative and step towards worker equity and security.

Think there is a palette of business structure that improve situation for workers that are suited to different endeavors.

Worker co-ops are maybe not that suited for very large enterprise.

Not arguing against worker co-ops nor for corporations; see as an alternative form of corporation that is better for workers and a step towards worker ownership and control.

[FrndStrng]

5. Owner owned provides better service

Do you remember this post from last August?
https://www.democraticunderground.com/132284066

Notable quote from the lady farmer was that when she contacted her coop the problem could be resolved. Contacting the former corporate processor often wouldn't result in a suitable solution.

About 40 years ago we created a non-profit wildlife rehabilitation organization. We had a close working relationship with a vet office. They have since been purchased by a private equity company.

The veterinarians working there have essentially been told "Thou shalt not touch any wild animal nor provide any type of medications or palliative care."

Need a pin in an eagle wing? Drive 3+ hours to the university that has a wildlife program.

[Farmer-Rick]

8. The world's largest coop is in Spain

The Mondragon Corporation in the Basque region is Spain's—and the world's—largest and most successful worker-owned cooperative. Founded in 1956, it operates a massive network of over 90 autonomous co-ops with more than 70,000 employees and €11+ billion in annual revenue.

They offer help to others who want to start a worker owned corporation. It's a fascinating successful structure that proves most capitalist claims about the failure of socialist businesses wrong.

[ToxMarz]

9. Co-ops and socialism are not synonymous

You can find examples of cooperatives more closely aligned with socialist ideology, none of these seem to be promoting that.

[Farmer-Rick]

13. Actually they kind of are

A worker owned co-op is the very definition of the workers owning the means of production, that is Socialism. While Capitalism is all about the owner with capital owning the means of production.

But yeah, there are a lot of places that call themselves a co-op but really aren't. They may have started out as a co-op but then turned into a corporation owned by the original workers who started the co-op.

There comes a point in a co-op's development where the original workers who put their money into the business have to decide how, or even if, they are going to incorporate new workers as owners too. But if they just let all workers in as owners who receive part of the profits, without any method to pay-in an equal share as the original workers, then the original owners frequently bulk and pull out.

But there are ways to buy into a co-op where even the most impoverished person can pay in their fair share.

If the co-op decides not to let any new workers in as owners, with equal voting shares, just hiring like other corporations, then it basically just becomes a regular corporation owned by the original workers. That's where the confusion comes in.

But yeah, the original concept of workers owning the business, the means of production, is socialism at work.

There are a lot of examples of socialism throughout the US. Social Security is socialism. Some say our current government is socialism for the filthy-rich. Despite what the filthy-rich propaganda would like you to believe, there is socialism in the US, we are not 100% capitalism. But then no country is 100% of any economic form.

[ToxMarz]

14. At the end of day though, they are not socialism as far as a form of governance.

The textbook definition of socialism is government ownership of the means of production NOT worker. In a free society people are free to organize their business as a co-op if they so desire. There is no government control or ownership.

Cooperatives may exhibit socialist type principles like democratic control and shared ownership, but they are an organizational model, not a system of government. Co-ops operate successfully in both capitalist and socialist economies.

[Figarosmom]

11. This almost made it back in the 70s

But then Reagan sure did get rid of those commie co- ops.

Glad to see them making a come back. I miss the one I belonged to.

[masmdu]

12. Link not working