Didn’t say they run it. The person who runs it can be simply another employee. It’s just there are no outside investors and everyone has a vote on the board. You put someone in charge you trust but everyone as a whole has a say in big picture stuff with the person at the top being day to day and being held accountable to employees and not investors.
Capitalism fundamentally changes the relationship between workers and their work. One takes the value they create and gives it to someone else. One doesn’t.
But why would this employee put in that more work than anybody else? Just to get the same amount of compensation as anybody else? I certainly wouldn’t put up with all the complications of leading a bunch of people without being paid extra.
Than I don’t really get the idea. Could you elaborate?
As far as I understood, the company’s shares belong to the employees (“everyone gets a seat on the board”) and those elect a director which in turn organises the work structure, assigns roles etc. Correct?
Can he be replaced at all times?
How is the compensation of the employees determined?
How are employees handled which are not performing their duties?
Can employees be fired?
How can employees join and leave the company?
Do they return their shares on leaving?
Can they buy and sell their shares?
How do new employees get their shares? Are they assigned or bought?
How is capital raised for large long-term investments like a new machine?
If the employees bring up the capital, do they get interest?
What if no capital can be raised? Is the company terminated?
Can some employees put in more capital than others?
Is the financial gain distributed equally between the employees?
Didn’t say they run it. The person who runs it can be simply another employee. It’s just there are no outside investors and everyone has a vote on the board. You put someone in charge you trust but everyone as a whole has a say in big picture stuff with the person at the top being day to day and being held accountable to employees and not investors.
Capitalism fundamentally changes the relationship between workers and their work. One takes the value they create and gives it to someone else. One doesn’t.
But why would this employee put in that more work than anybody else? Just to get the same amount of compensation as anybody else? I certainly wouldn’t put up with all the complications of leading a bunch of people without being paid extra.
Who said that’s the case?
Than I don’t really get the idea. Could you elaborate?