Richard Thaler’s work and the work of most behavioral economists focuses on the limits to individual rationality and not on the perverse incentives and structures that plague contemporary capitalism.Read more
“Time theft” is an ongoing problem of contemporary capitalism, both within the dictatorship of the workplace and in the seeming democracy of our lives outside of work.
Economist David Ruccio responds to Elizabeth Anderson and her recent article for Vox about workplace dictatorship.
Treasury Secretary Steve Mnuchin may not be worried, but we should be. Workers will continue to suffer unless and until they have a say in how robots and the resulting surplus are utilized.Read more
Worker-owned enterprises as a key feature of a socialist transition from capitalism.Read more
While Wall Street celebrates yet another stock market record—surpassing 20,000 on the Dow Jones industrial average—most Americans have little reason to cheer. That’s because they own very little stock and therefore aren’t sharing in the gains. A much better alternative for American workers would be to look toward a radically different model: enterprises that are owned and managed by their employees.Read more