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Every company should be owned by its employees (www.elysian.press)

submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 9 points 3 months ago (1 children)

this HN comment at the top illustrates the perspective:

worker-owned cooperatives have not taken over the market, although they are an available institutional form, because (a) they find it hard to raise capital (b) they tend to make decisions that maximize worker welfare rather than profit,

In other words, The market system as it currently exists maximizes profit over worker welfare, and that's why these coops are not successful. That's a fairly damning indictment of the market.

[–] [email protected] 7 points 3 months ago

Yeah there were so many condemnations of the idea that brought up "but they'd maximize worker welfare!" like it's a bad thing