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A worker cooperative is a cooperative owned and self-managed by its workers. This control may mean a firm where every worker-owner participates in decision-making in a democratic fashion, or it may refer to one in which management is elected by every worker-owner who each have one vote. Worker cooperatives may also be referred to as labor ...
Since the broad purpose of cooperatives is to offer different power structures than ordinary capitalist institutions (which are owned by profit-seekers that may or may not work at the firm), as well as to improve the economic and social life of workers and all who are involved beyond mere profit and creating products/services, there is much ...
Economics of participation is an umbrella term spanning the economic analysis of worker cooperatives, labor-managed firms, profit sharing, gain sharing, employee ownership, employee stock ownership plans, works councils, codetermination, and other mechanisms which employees use to participate in their firm's decision making and financial results.
The self-managed economy is a form of socialism where enterprises are owned and managed by their employees, effectively negating the employer-employee (or wage labor) dynamic of capitalism and emphasizing the opposition to alienation, self-managing and cooperative aspect of socialism. Members of cooperative firms are relatively free to manage ...
Based on this assumption, Ward presented an analysis that was critical of labor-managed firms. In particular, he argued that a supply curve of a labor-managed firm has a negative slope: an increase in the market price of the product produced by a labor-managed firm will not make it increase production and hire new members. It followed that an ...
A unionized co-operative is a co-operative which is beholden to active legal involvement by trade unions in the representation of the worker-owners' interests. [1]While they may be considered unnecessary in most cases, trade union involvement and membership may be welcomed by some co-operatives, be it to show voluntary solidarity with the organized labor movement's own history of struggle or ...
Cooperative ownership comes in various forms, ranging from direct workers' ownership, employee stock ownership plans through pension funds, to the weakest version involving profit sharing. Profit-sharing and varying degrees of self-management or " Holacracy " is practiced in many of the high-technology companies of Silicon Valley .
The stronger incentives to maximize productivity that he conceives as possible in a socialist economy based on cooperative and self-managed enterprises might be accomplished in a free-market economy if employee-owned companies were the norm as envisioned by various thinkers including Louis O. Kelso and James S. Albus.