A Patron of Economic Update asks: "How would a socialist-style enterprise such as a worker co-op or WSDE relate to investors/banks/capital? Would the co-op or WSDE still be considered a socialist enterprise in it's relationships externally versus the internal structure? How does the socialist philosophy/ideal reconcile the need to raise funds via investors/shareholders? And would it still be considered a socialist venture? What is the alternative to raising funds for a worker co-op or WSDE other than investors/capital?"
This is Professor Richard Wolff's video response.
Ask Prof Wolff is a Democracy At Work production. We are committed to providing these videos to you free of ads. Please consider supporting us on Patreon.com/economicupdate. Become a part of the growing Patreon community and gain access to exclusive patron-only content, along with the ability to ask Prof. Wolff questions like this one! Your support also helps keep this content free to the public. Spreading Prof. Wolff's message is more important than ever. Help us continue to make this possible.
Follow us ONLINE:
“Marxism always was the critical shadow of capitalism. Their interactions changed them both. Now Marxism is once again stepping into the light as capitalism shakes from its own excesses and confronts decline.”
Check out all of [email protected]’s books: "The Sickness is the System," "Understanding Socialism," by Richard D. Wolff, and “Stuck Nation” by Bob Hennelly at http://www.lulu.com/spotlight/democracyatwork