Richard Wolff earned his Ph.D. in economics at Yale in 1969. I viewed a lecture of his recently for insights. I also reviewed the 49th annual report of ALEC, which writes bills for conservative state legislators to submit.
Dr. Wolff strongly supports co-op structured businesses. All are owners, share in profits, build co-op share value and vote in future direction of the co-op. In contrast, corporations are wealth builders for a few. The board of directors, major stockholders and chief executives (aka the rich) make all decisions. Labor and white-collar workers don’t vote on future direction, share profits or have equity.
Should state and federal legislatures make laws requiring all workers be stock owners, by say 5 or 10 percent of their pay being in company stock and have profit sharing? With time and labor, white-collar workers will make a large bloc of votes and have some input in future direction of the corporations. Dr. Wolff cites Spain as being successful at forming large profitable conglomerate co-ops.
