Out-of-control capitalism is gaslighting a world on fire. Climate…intergenerational poverty…racism…ethno-populism…embedded inequalities…a race to the bottom that’s getting worse.
But, McKinsey reports that less than 20 percent of trade today is based on companies seeking the lowest wages around the world. And, value chains are becoming knowledge-intensive, needing highly skilled labor. So, how do we create shared prosperity circles to include all workers?
In the middle of ever-changing technology equations workers can’t be just stakeholders. They must be shareholders, with a voice, a vote and an equity share. The basic principle of democracy in nation-states and shared ownership models is one person, one vote.
An equity share is the right to vote.
Our Economic Opportunity Project seeds democratic free enterprise, the greatest engine of innovation and broad economic prosperity in human history, but we make this happen in underserved communities.
We already do this work across borders, markets and silos. We work in places like Mondragon and Barcelona (Spain), Cincinnati and Dayton (Ohio), Preston (U.K.), Montreal (Canada), Columbia, Northern Ireland, Central Brooklyn, Trenton (New Jersey), Bermuda and Indianapolis (Indiana). Our network extends to Vienna (Austria), Emilia Romagna (Italy), throughout Africa, Oakland (California), Haiti, Singapore and Japan.
A Rutgers University study found worker ownership boosted profits up to 14 percent, and added safeguards in economic downturns. The 2018 Main Street Employee Ownership Act showed productivity gains of up to 5 percent. The world is crying out for scale to build ecosystem economies globally that work for all.
Our metrics are localized, sustaining worker owned social enterprises, building wealth, practicing democracy and networked everywhere. Harvard Business School Professor, Rebecca Henderson, believes we have “the resources and the technology to build a just and sustainable world – and purpose driven businesses could be the catalyst that drives the global, systemic change we need to reimagine capitalism in a way that works for everyone.”
Gusher up; not trickle down.