Economic Update: Capital for Worker Coops (2016.10.06)
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Updates on US workers' productivity rising while wages flat since 2009, US corps evading taxes, Gallup Poll on poor US job picture, wealth of billionaires enough, if redistributed, to change global economic conditions, rising corp debt problem. Major discussions of (1) ways and means of providing capital to worker coops, and (2) why technical "progress" excites capitalists and worries workers: the problem is capitalism.
Comments
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Richard,
Could or has someone added up all the manners and totals in which funds have gone towards capitalist companies in subsidies, tax breaks and otherwise and by Country. -
You can't have it both ways.
On one hand, you claim that members of a worker-owned business will possess a social conscience that will protect the community in which that business is located.
But you decry the very same social conscience that within a capitalist structure prompts neighbors with adequate incomes to help those with lower incomes or none at all.
Using the idea of social conscience as an operant factor in either economic model is flawed anyway, since it may or may not actually exist in either case, wouldn't you agree? -
Labor has no change in Britain lol.
Their plan will never come to pass. -
I really like Cannibal Corpse.
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Thank you.
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thank you so much for the info Rick, you are the best!
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There are plenty of ways of using the surplus labor generated from technology in addition to worker leisure, which is indeed much needed. Increase wages would also benefit the working class. We all know, but it must be emphasized that working class families currently depend on two wage earners because wages are half what they should be. Community development also comes to mind. etc.
Of all these alternatives the most numskull option has to be giving it to the 1% so that they can stash that surplus in some off-shore tax haven as we are doing today.
Jeremy Corbin might have dropped the Brexit ball, but he sure has command of the issues now. When labor is back in power, Oh Britannia, will you lead the way?
Thank you again Prof. Wolff for an inspiring update. -
Spot On. Once again Prof .
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Brilliant! Love love love it!
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Great show, thank you Dr. Wolff!
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Enterprises largely succeed or fail due to their workers, so it would seem only right to allow the workers the right to buy the company they helped build rather than some billionaire shark to come in and flip it or tear it down in order to make some quick cash!
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same old same old
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What would happen if all that loot money was put back into circulation? Good bye economy . . So let's hope the government doesn't "fix" that problem.. Hmm, if they hear about this loot money, omg! Let's keep it secret from them, no need to fix things that ain't broken! ROFL! WAKY WAKY PEEP'S!
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Marginal productivity theory, which is a well recognized cornerstone of macro and micro economics of labor as a benchmark no longer holds water and hasn't for decades.
We are doomed. -
but what financial incentive do Mr. and Mrs. Smith have to sell their company to their workers?
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Join 30 hours per week movement
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thank you dr!
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If workers really wanted to purchase the businesses they work in, they can pool their money together and do it. They could promise to pay the former owner the total cost of the business with the revenue the business generates. Have the cost of the business paid off in installment payments over lets say 5 years.
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Richard, you must be "peddling fiction" as our left (choke) President says. Didn't the Demoselloutcrats control Congress a few years back? Golly gee willikers, why didn't they address these important social and economic issues and fix them? Vote for Killary Klinton or Donald Shlump uh duh der blblblbl.
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