Reply #19: Workers Should Buy Out and Control the Company [View All]

[justinaforjustice]

Your idea is excellent, but it needs to be expanded. Legal ownership by employees of the stock must be accompanied by actual worker control of the decision-making in the company. Workers should elect their managers, subject to recall, and managers salaries should be reasonably restricted. The government should loan the workers the money to purchase the company at a reasonable interest rate, subject to long-term repayment. No more million dollar bonuses, no more incentive for top officials to fraudulently inflate the value of the stock in order to exercise their exorbitant stock options.

We must return our economy to creating real value, based on usable goods, not paper ponzi schemes such as credit default swaps. Key to this is worker decision-making. Merely "nationalizing" the company would only substitute government paid bureaucrats for private capitalist ones. Worker control of our companies can return it to sanity and real productivity.