Ask Prof Wolff: ESOPS, WSDE and How to Fund Worker Co-ops

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  • Опубліковано 2 лис 2024

КОМЕНТАРІ • 49

  • @LiaMari
    @LiaMari 3 роки тому +8

    I’m so grateful for your work.

  • @penguinnh
    @penguinnh 3 роки тому +20

    The Linux Professional Institute is a non-profit that certifies Open Source Professionals. We would like to encourage our certificate holders to start their own cooperatives.

    • @SandyEaster
      @SandyEaster 3 роки тому

      I'll i

    • @pietroaretino6390
      @pietroaretino6390 3 роки тому +1

      Thanks for this comment. I am very interested now in pursuing a certificate with LPI. I am an italian American system administrator, living in Italy and have been for the past 5 years but have not thought about a IT worker coop until now! Very interested

  • @genewhitworth6174
    @genewhitworth6174 3 роки тому +8

    Just to piggyback onto what the good Prof said, its mostly our federal gov't that is atrophied regarding funding for local or regional commerce--but local & state gov'ts will b much more receptive to co-ops & worker-ownerships as the economy worsens, and the federal gov't continues to ignore us, or worse fails

    • @PoliticalEconomy101
      @PoliticalEconomy101 3 роки тому

      The Fed never supported local commerce. It was always the state and local government job to do that through what is called Fiscal Federalism. The federal role is to provide funding to the states and local governments.

    • @genewhitworth6174
      @genewhitworth6174 3 роки тому

      Actually the fed used to provide a lot of local & regional funding via grants, but now its all crony capitalism. That's what created the housing boom in the 50s.
      The states are going to start holding back the money they give to the fed, which will make it harder on red states, but they've got to. The fed is wasting it on Wall St, and its fiat money anyway, they're just printing it, not borrowing it like they've lied to us

    • @PoliticalEconomy101
      @PoliticalEconomy101 3 роки тому

      Thats false, the Fed never supported local commerce, only special interest groups and industries that lobby. Where they were located was irrelevant. Trying to change your argument to funding now I see.

    • @genewhitworth6174
      @genewhitworth6174 3 роки тому

      @@PoliticalEconomy101 The federal gov't has, the federal reserve has not, correct

  • @Who-vt9oh
    @Who-vt9oh 3 роки тому +3

    I have nothing but the utmost respect and admiration for prof Wolff. He's taught me so much about the failures of capitalism. But I'm not convinced about WSDEs. I worked for a credit union. I and my fellow workers had the opportunity to vote with the membership for our board of directors. Very few employees voted. Most employees just weren't interested, they didn't care. They show up to work, they do their job, they get a paycheck, they go home. The vast majority of employees did not have any interest in being involved in the institution's decision making process.
    Now, maybe that's the result of living in a capitalist society, where we are all conditioned to accept the total authority of the boss. Maybe it's entirely cultural. Maybe with enough time and effort, people would begin to see democracy in the workplace as not only possible, but desirable, but I'm not entirely sure. I just don't know.
    What I am sure of, however, is that for such a thing to be possible, we must first change the cultural perspective around democracy. In 2020, just about 2/3 of eligible voters showed up to vote, and that was an unusually high turnout. Higher functioning democracies in Europe achieve over 80% turnout, in some cases. America has to believe in democracy before democracy at work is possible, not least of which for the reason prof Wolff mentions in this video: WSDEs are going to require federal loans to get up and going and there is no way that will happen so long as the capitalist ruling class controls the government.
    We're trapped in a paradox, where we need democracy in order to create democracy. We need people to believe in democracy and be motived to participate in democracy in order to make democracy work, but we need democracy to work in order get people to believe in democracy and be motivated to participate in it.
    I don't know what the solution is. The best I can come up with is to demand the Democrats use their slim majority in Washington to reverse gerrymandering, appeal voter suppression laws, encourage states to adopt automatic voter registration and vote by mail, and eventually abolish the electoral college. Make our national democracy better and hopefully that will lead to people opening to the idea of democracy in the workplace.

  • @SkandalouzStyle
    @SkandalouzStyle 3 роки тому +11

    some one ask him about what happened with the stock market and it being blamed on reddit?
    bankrupting a hedge fund!

    • @anthonydavis9842
      @anthonydavis9842 3 роки тому +2

      Well, the hedge funds managed to unite both left and right for once. That and the fact gamespot was the little guy who millions of people have fond memories of

    • @jonesmartins
      @jonesmartins 3 роки тому +4

      The usual way to profit with stocks is you buy low and sell high. By shorting stocks, you do it backwards: you sell high and buy low. How do you sell something you don't own? You borrow it. So by borrowing the stock from someone else, selling it for a high price, then buying it back at a lower price and giving it back to the owner + interest, you can profit if you expect a stock's price to go down in the future.
      You may also be familiar with supply and demand. By having a demand higher than usual, the price goes up until there's enough supply. What Redditors did was organize themselves to buy Gamestop's stock (huge demand), thereby propping up the stock's price and then selling the stock at this high price. What happens to the hedge funds that bet AGAINST Gamestop then? If hedge funds borrow and sell something at a lower price then buy it back at a higher price, they'll lose money. In this case, they may have lost huge amounts of money because of how propped up the stock's price was.

    • @SkandalouzStyle
      @SkandalouzStyle 3 роки тому +4

      @@jonesmartins you know they are calling for government regulation to stop this happening in the future?
      How ridiculous is that? free market economists who manipulate the market but when they lose out they cry foul to the nanny State? who bails them out?
      We need a revolution in the world!

  • @Andrew-qi1bw
    @Andrew-qi1bw 3 роки тому +2

    Great Vid 👍🏼

  • @mokushmasmo6009
    @mokushmasmo6009 3 роки тому

    We need individuals with the courage to fight. And that can be viewed as a movement. There's no one way to organize nor obtain a change in power but will. If everyone thought as an individual we'd have a worker coop rule.

  • @paulyayala2645
    @paulyayala2645 3 роки тому

    MR WOLFE YOU ARE A BRILLIANT MAN I WISH TO THANK YOU FOR YOUR GUIDANCE AND DIRECTION. I HOPE TO ONE DAY MEET YOU IN PERSON IT WOULD BE ONE OF THE BEST DAYS OF MY LIFE FOR THIS STUDENT TO MEET HIS TEACHER.....

    • @peterstafford4426
      @peterstafford4426 3 роки тому

      What can't he start a worker co-op? He wont doit because he has no idea how to actually do it.

  • @geobot9k
    @geobot9k 3 роки тому +2

    10 second summary: Two different ways to fund your co-op could include credit unions or the government.

  • @MrLouladakis
    @MrLouladakis 3 роки тому +2

    GO INTERNATIONAL PROGRESSIVES GO!.

  • @mikegriggs4572
    @mikegriggs4572 3 роки тому

    Thank you for that information.

  • @lawrence2992
    @lawrence2992 3 роки тому

    Dr. Wolff, how would you differentiate between ESOPS from more hierarchical, worker cooperatives which have democratically elected a board of directors, in order to delegate decisions on production and surplus capital, to persons who specialize in management? I have read that ESOPS are only worker-owned in name only; the shares are bought for the company on the _behalf_ of employees and reside in a confined trust, with no real votes on production or board of directors. Moreover, are WSDE only horizonal in nature-that is, there is no delegation of oversight and it must be direct democracy and not representative democracy? Does
    Democracy At Work approve and support worker cooperatives that are hierarchical, but democratic?

  • @kathryntate6809
    @kathryntate6809 3 роки тому +4

    The federal Small Business Administration was ordered to give loans with very low interest rates to cooperatives/small businesses.

  • @demnuh
    @demnuh 3 роки тому +5

    professor Wolff gotta sound off on the GME

    • @SkandalouzStyle
      @SkandalouzStyle 3 роки тому

      that's what I'm waiting to hear about as well.

  • @hassanal-mosawi4235
    @hassanal-mosawi4235 3 роки тому +2

    Corruption has appeared throughout the land and sea by [reason of] what the hands of people have earned so He may let them taste part of [the consequence of] what they have done that perhaps they will return [to righteousness]. (30-41)

  • @pvphoto1
    @pvphoto1 3 роки тому

    I would interested to know what you think o Kate Raworths' "doughnut economics" theory currently being tried out in Amsterdam?

  • @TheRoland19111
    @TheRoland19111 3 роки тому

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  • @ParcelOfRogue
    @ParcelOfRogue 3 роки тому +4

    I am just complaining to my local Co-op I am a member of as they are one of the first to introduce face recognition and AI tech in stores and pass it onto Police. Thy won't serve anyone not showing faces for any reason. It's a slippery slope of intrusion, control, mis-identification and records keeping. Where does it end up?

    • @dinnerwithfranklin2451
      @dinnerwithfranklin2451 3 роки тому

      That is a very slippery slope and I think you are right. Not quite the same thing as a worker's co-op but your point is valid for sure

    • @ParcelOfRogue
      @ParcelOfRogue 3 роки тому

      @@dinnerwithfranklin2451 Look up the co-operative movement in UK. I bank with them but that went to the wall & had t be sold to a US Hedge Fund. They also sponsor labour MP's

    • @dinnerwithfranklin2451
      @dinnerwithfranklin2451 3 роки тому

      @@ParcelOfRogue Sorry, that is interesting and all but I'm not sure if you are saying your bank is a worker's co-op? That would be relevant for sure

    • @ParcelOfRogue
      @ParcelOfRogue 3 роки тому

      @@dinnerwithfranklin2451 The Bank kept the name. But the UK Co-operative movement is a co-op. They have Insurance, funerals, food shops and electricals goods retailers etc. Positions are often decided by voluntary committee

    • @dinnerwithfranklin2451
      @dinnerwithfranklin2451 3 роки тому

      I think we may be talking at cross purposes. You are talking about a retail co-op I think, and the professor is talking about workers control of work places?

  • @roblanchi5159
    @roblanchi5159 3 роки тому

    Dr Wolff, how about political power?
    as you know the system can change everything when they feel threatened.

  • @scottluthy5828
    @scottluthy5828 3 роки тому

    It is obscene that bill gates and Jeff Bezos have doubled their wealth during pandemic. This economic relationship would be so much better for all workers. How much better society could be with either one of these organizational changes for people who work at any enterprise. Public financing should be used so discrimination is reduced. That would be great.

  • @Dwamak
    @Dwamak 3 роки тому +1

  • @WaffleFalafell
    @WaffleFalafell 3 роки тому

    Boeing and Raytheon co-ops 🥰

  • @eworknow1889
    @eworknow1889 3 роки тому

    Can't know how I bumped onto this. Anyway Damn good content ❤️. I also have been watching those rather similar from mStarTutorials and kinda wonder how you guys make these clips. MStar Tutorials also had amazing info about similiar money making things on his channel.

  • @toddfarkman2177
    @toddfarkman2177 3 роки тому +1

    Aren't all companies run by the workers?? That's a confusing distinction. Even board members are technically "workers" of the company. So let me figure out what you really mean. In addition to executives, you want to put janitors and low-level workers on the board? You want a person with a low IQ determining the direction of the company. Even when they don't own stock or any part of the company. Other than some philosophical thought experiment, why would this be a good thing? Why would you want a HS drop out deciding what the company makes and how it invests its earnings? I've seen first hand how unions of low-educate workers drive companies into the ground. I can only imagine that would be the scenario with most WDSEs. I can see having representation by workers, but not to this extreme. It seems like an exaggerated response to workers not having representation. But as long as this is not mandated, i.e it doesn't become law that all companies have to do this nonsense, I have no issue with it. My guess is that these companies will be hugely uncompetitive and only garner customers that have some political or sentimental reason to support them.

  • @Dwamak
    @Dwamak 3 роки тому +1