Ask Prof Wolff: Why Employees Need a Seat At The Table

Patron of Economic Update asks: "Hi, Prof Wolff. I work as a pilot in the airline industry. We enjoy great pay, benefits, work rules, etc. compared to other labor in the USA. This is because we have strong unions. There is a company that is doing great financially, has publicized massive growth plans, but is dead-set against meeting pilots’ demands for an industry competitive contract. It almost seems like the behind the scenes leadership (the major share holders) are setting the company up to be sold. Is there anything In the USA specific work groups (or better, all of them combined) can do to hold Big Money owners accountable?"

This is Professor Richard Wolff's video response.

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Showing 1 comment

  • Kim McIntosh
    commented 2022-04-27 13:17:33 -0400
    How would co-ops compete with capitalist corporations? Or just billionaires in general. If co-ops started to become profitable and more successful than corporations wouldn’t capitalists find a way to do away with the co-ops? The rich would still have the majority of the money which equals the majority of power.

    Seems to me that a more large scale takeover of the means of production would be required. The working class would need to take over ALL large corporations. And create a true democracy wher each worker would have a voice. Anything less would be easily be stomped on and eliminated by the rich. And it would have to be worldwide because capitalism rules the entire world. Not just our own country. .
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