Your questions are extremely important and even more so as work becomes more automated. Unions in my opinion are not a viable option. It’s too hard to organize the huge number of employers needed to serve everyone effectively and unions have not made themselves proud for ethics and honesty.
As a former partner in a global management consulting firm I strongly support requiring some element of ownership of any qualifying entity and that means an established and successful entity.. It does two things unions don’t do. First, it gives employees a vested interest in the success of the employer and employees often see things that can be helpful but have little to gain by pointing them out. Second, unions traditionally have an adversarial relationship to the employer. It’s far better for employees to want their employers to be successful and share in the fruits of that success.
"shared ownership, like Australia’s superannuation system, which turns workers into owners of the stock market....."
What a concept. Can you imagine the reaction this idea would have in the US from the capital elites if they were subjected to sharing profits and ownership with their workers. This is reminiscent
of the Industrial Syndicalist movement, describing those who produce the product/service should own the means of production with the applicable profits.
Before the idea is dismissed, we might recall during the Great Depression of nearly 100 years ago that Joseph Kennedy, the Wall Street swindler, bootlegger, adulterer, Ambassador, and father of a president, stated "I would sacrifice half of my fortune if I could be assured that I could keep the other half." Joe was terrified; he thought the pitchfork and torch bearing rabble was going to even the score.
Times of crisis can lead to greatness in thought, actions, and accomplishment. Never, ever, ever quit, as Churchill espoused.
C0mcast is craptastic! So it goes w/ oligopolies/monopolies, right? Add in complete deregulation and end of the rule of law and these horrid firms will only get worse. Our current kleptocrats will likely further devolve our once revered economic system into that of a developing nation.
Your questions are extremely important and even more so as work becomes more automated. Unions in my opinion are not a viable option. It’s too hard to organize the huge number of employers needed to serve everyone effectively and unions have not made themselves proud for ethics and honesty.
As a former partner in a global management consulting firm I strongly support requiring some element of ownership of any qualifying entity and that means an established and successful entity.. It does two things unions don’t do. First, it gives employees a vested interest in the success of the employer and employees often see things that can be helpful but have little to gain by pointing them out. Second, unions traditionally have an adversarial relationship to the employer. It’s far better for employees to want their employers to be successful and share in the fruits of that success.
Dear Dr. Wolfers
Your comment
"shared ownership, like Australia’s superannuation system, which turns workers into owners of the stock market....."
What a concept. Can you imagine the reaction this idea would have in the US from the capital elites if they were subjected to sharing profits and ownership with their workers. This is reminiscent
of the Industrial Syndicalist movement, describing those who produce the product/service should own the means of production with the applicable profits.
Before the idea is dismissed, we might recall during the Great Depression of nearly 100 years ago that Joseph Kennedy, the Wall Street swindler, bootlegger, adulterer, Ambassador, and father of a president, stated "I would sacrifice half of my fortune if I could be assured that I could keep the other half." Joe was terrified; he thought the pitchfork and torch bearing rabble was going to even the score.
Times of crisis can lead to greatness in thought, actions, and accomplishment. Never, ever, ever quit, as Churchill espoused.
Love this episode. Such important questions. Such sanity. Not so sure that creating lots more things is necessarily a positive goal. Cheers!
C0mcast is craptastic! So it goes w/ oligopolies/monopolies, right? Add in complete deregulation and end of the rule of law and these horrid firms will only get worse. Our current kleptocrats will likely further devolve our once revered economic system into that of a developing nation.
Tonight on Jeopardy—
“THIS SEMIAQUATIC AUSSIE CREATURE HAS FUR KEEPING IT DRY AS IT SWIMS, & THAT SNOUT IS REALLY EFFICIENT—NOT JUST A DIVINE JOKE
(A rerun from last year)