The system is usually called economic democracy because it democratizes the economic sphere. All firms in economic democracy are required to be worker coops. As a result, voting shares are exclusively held by those that are actually working the firm. Non-voting preferred stock can be free floating property rights that can be held by outside investors. it is democratic because only the people actually governed in the firm (i.e. workers) have voting rights over management
Wouldn’t that allow people to profit who put in no work? I think this becomes a moral issue on some level as I don’t generally agree with people making money off of the work of others.
The system is usually called economic democracy because it democratizes the economic sphere. All firms in economic democracy are required to be worker coops. As a result, voting shares are exclusively held by those that are actually working the firm. Non-voting preferred stock can be free floating property rights that can be held by outside investors. it is democratic because only the people actually governed in the firm (i.e. workers) have voting rights over management
Wouldn’t that allow people to profit who put in no work? I think this becomes a moral issue on some level as I don’t generally agree with people making money off of the work of others.