The problem with > coops, labor managed firms etc.< is that (in the curent situation) workers don't have very much (or any) capital. Usually, they own only their own labor-power, which is hardly a liquid asset. They may have some savings for retirement, but it's a mistake to put that nest-egg into one basket (a worker-owned firm). The main asset of the "middle class" worker is his or her house (minus the value of the mortgage, which might imply a negative number these days). Again, should workers sell their houses to buy into a co-op? or use them as collateral? And banks are usually unwilling to lend to co-ops, except with a significant premium.
Of course, if there's a redistribution of wealth, things would change a bit. But we still have to worry about co-ops or labor-managed firms acting like exclusive clubs. -- Jim Devine / "Reality is that which, when you stop believing in it, doesn't go away." -- Philip K. Dick _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
