this post was submitted on 25 Jul 2024
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I think that's only true because in early capitalism, only the existing wealthy were able to participate in the system. That's still the case to a large degree, but it's not an intrinsic feature of capitalism. It was just an incidental aspect of capitalism in the world as it existed.
True capitalists believe that the more competition, the better. Giving ordinary workers a higher stake in their company promotes a much broader level of competition. I think it's totally fair to describe worker co-ops in terms of capitalism, and as you said it would really help the branding.
I disagree. The concentration of wealth has always been a core feature of capitalism from the beginning, and the original definition was all about that feature of it. It’s what separates it from earlier merchant economies.
The only times we’ve seen this trend reverse is during major calamities, or by highly organized political action, usually by socialists or anarchists.
Capitalists claim to love competition and the system works much better in its presence. But the reality is that capitalism always trends towards monopoly without or fixed efforts to resist corporate power.
Coops will need organized support as well if they are to grow at the expense of traditionally owned businesses. For one thing, there needs to be a legal structure that outlines how they can operate, grow, etc. There also needs to be a source of capital for them to get off the ground. I personally think expecting workers to front this capital is unrealistic since most have little in the way of savings. Community banks and credit unions would be a great option for this credit source. Locally minted currencies could also help, though that’s a whole separate and quite complicated topic.
But yeah if you want to rebrand this as a new and improved form of capitalism I guess I won’t stop you, even if it’s technically incorrect.
I highly recommend this video if you’re interested in worker coops, how they work, and how they can be expanded in the modern economy: https://youtu.be/yZHYiz60R5Q?si=QZbmpUqgjpuz9IHp