Skip to main content

Catalyzing worker co-ops & the solidarity economy

‘Shared ownership’ in the presidential race

While Hillary Clinton and Bernie Sanders are battling it out on the appropriate rate for minimum wage ($12 and $15, respectively), economic policies pertaining to “shared ownership” strategies, such as employee ownership and profit-sharing, deserve greater attention. Both forms of shared ownership have been shown to boost economic growth by increasing productivity, profits, wages, and firm innovation. Both Clinton and Sanders support shared ownership; in order to determine what policies will be most beneficial, an in-depth dialogue on the merits of these plans is essential.

Sanders has introduced two bills on employee ownership. Under his Worker Ownership, Readiness and Knowledge Act, the Department of Labor would provide funding to states to establish employee ownership centers. Modeled on the success of the Vermont Employee Ownership Center, these centers would provide training and support for programs promoting employee ownership. A second bill would establish a US Employee Ownership Bank to provide loans that enable employees to purchase businesses, either through an employee stock ownership plan or a worker-owned cooperative.

Read the full article at The Boston Globe

 

Go to the GEO front page

Add new comment

Plain text

  • No HTML tags allowed.
  • Lines and paragraphs break automatically.
  • Web page addresses and email addresses turn into links automatically.
CAPTCHA This question is to verify that you are a human visitor and to prevent automated spam.

What does the G in GEO stand for?