Minimum wage would be $26 an hour if it had grown in line with productivity

Re:Minimum wage would be $26 an hour if it had grown in line... by dnautics on Wednesday September 15, 2021 @11:56AM (#28540696)

nobody is saying that NO companies should be run that way. I have a lot of respect for worker co-ops. But to say that ALL companies should be run that way is silly. Look at the companies where co-ops are successful: They have either 1) very predictable revenue streams or 2) are in an enterprise where there are almost no material costs (costs are entirely personnel or upkeep/personnel-infra costs).

In this universe are often high-capital-expenditure endeavours. You WANT the wealthy to take the risk on those, and not the workers.

For example, a co-op of 20 needs a million dollars to create a factory to build widget X. Where does this co-op get the money from?

What happens when widget X fails? Are the losses evenly distributed among the co-op members?

What co-op-ing everything winds up doing, in effect, is either 1) socializing the losses of adventures of politically-connected "wantrepreneurs" who are adept at converting political capital, or 2) making participating in risky ventures only accessible to the economically wealthy.

So in the long run enforcing it is likely to cause more economic disparity, not less.

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Re:Minimum wage would be $26 an hour if it had grown in line... by BuckRogers on Thursday September 16, 2021 @01:59AM (#28548560)

Good thing that I never said all companies were to be worker owned. Because that wouldn’t be my belief. Other than my views not aligning with the premise that you’re pushing onto me, I agree with your points and think that they are good. My belief is that capitalist and democratic business should coexist and even compete for employees. I know where I want to be a developer. I think some of your assertions would be proven false, such as a democratic workplace not having the ability or will to borrow money to expand.

The majority of businesses actually are proven and stable business models. The local convenience store is pretty much the perfect cooperative opportunity. There’s really no reason for 7-Eleven out of Japan to be owning most convenience stores.

Venture capitalism still has a place in the ideal mixed mode economy.[0] For those risky ventures. But that’s really not what the majority of the economy should consist of. And it doesn’t. We’re just really misaligned in our model for what the majority of our economy is.

Unions did a good job of distributing wealth in a free market way. But those still drive out capitalist businesses to cheaper countries. Cooperatives have every incentive to stay here.

[0]https://en.m.wikipedia.org/wiki/Liberal_socialism

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