To counter [a] concentration of wealth, and live up to the ideals of the country’s founders, Messrs Blasi, Freeman and Kruse argue that America needs another dose of Washington’s medicine: more incentives for employees to build ownership stakes in the firms they work for.— The Economist
In today’s ever-changing economy, owning shares in one’s employer may be the best bet for the success of both the individual and the company. The Citizen’s Share: Putting Ownership Back into Democracy, by Joseph Blasi, Richard Freeman, and Douglas Kruse, uses both history and research to support this creative business practice.
The idea of workers owning the businesses where they work is not new. In America’s early years, Washington, Adams, Jefferson, and Madison believed that the best economic plan for the Republic was for citizens to have some ownership stake in the land, which was the main form of productive capital. This book traces the development of that share idea in American history and brings its message to today’s economy, where business capital has replaced land as the source of wealth creation. This important and insightful work makes the case that the Founders’ original vision of sharing ownership and profits offers a viable path toward restoring the middle class. Blasi, Freeman, and Kruse’s book offers history-, economics-, and evidence-based policy ideas at their best.
Read an article by Richard Freeman and Joseph Blasi on The Business Desk blog on PBS Newshour!
Read Christopher Matthews’ review, “Can Employee-Owned Companies Reboot the Economy?“, on TIME.com