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Imagine an economy without bosses.
A close analysis of the performance of worker-owned cooperative firmsācompanies in which workers share in management and ownershipāshows that, compared to standard top-down firms, co-ops can be a viable, even superior way of doing business.
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āVirginie Perotin of Leeds University Business School synthesized research on ālabor-managed firmsā in Western Europe, the United States and Latin America, ā
Perotin found improvements in operations, efficiency and holistic social benefits associated with increased worker autonomy, and having a direct stake in managing production.
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Worker-run management reduces friction with boss/worker issues like
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āEuropean co-op sector is generally as diverse as any other type of ownership structure, including full-scale factories . Though co-op conversion is often seen as a way to rescue āfailingā firms, Perotinās research reveals that in France from 1997 to 2001 more than eight in 10 worker co-ops starting up during this period were established āfrom scratch,ā not derived from ownership transfers in failing companies (compared to new business formations overall, co-ops had a larger portion of brand-new startups)ā.
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Co-ops offer sustainable long-term employment because worker-owners protect their own livelihoods. This is seen in periods of economic distress, co-ops generally preserve jobs while planning to maintain current assetsāvs. many corporations shed jobs to tighten budgets.
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Not all worker-owned models prioritize further generations. Some co-ops though balance both democratic enterprise and public trust principles- and in some states are mandated by law to protect the co-op model by keeping a long term reserves, and that when owners leave, indivisible assets are recycled back into future co-op organization.
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āIn an increasingly precarious economy, advocates push worker ownership as a pathway to restore equity and control to labor. Co-ops can boost career mobility and seed homegrown job opportunities, while communities benefit from an ownership structure that keeps capital reinvested locally, not exploited or outsourced to faceless corporate chains.ā
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Hoover projects that an oncoming wave of retiring Baby Boomer small business ownersā firms are viable, but wonāt attract big buyers, so instead of folding, a retiring owner can hand the keys over to veteran staff. This could offer fresh opportunities for co-op conversion .
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30 reads
āCo-ops may not bring about a revolution, but they do bring a priceless return on investmentā giving workers the power to repay one good turn with anotherā.
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Accomplished doodler. Recovering procrastinator. Amateur artist, game designer, and writer of mystery and sci-fi stories. Professional couples and family therapist.
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