Denis Davydov (University of Vaasa) Discussant: Andrei Vernikov (HSE and Institute of Economics, RAS)
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“When a country increases its production over time while decreasing the average amount of associated labor, this logically ought to yield real benefits for the people. One might think that the people on average would be able to work a little less, and that at the same time have a little more”
Most people don't know it, but today there are over 19,000 companies that collectively employ over 25 million workers that fit under a broad definition of employee ownership. That figure comprises nearly 16 percent of the American workforce. A related statistic from the University of Chicago's General Social Survey reports that about 18 percent of those who work for companies in this country own stock in their companies. This is progress of sufficient measure to qualify for a compelling new label put forward by the Washington, D.C.-based think tank, the Center for American Progress. In a recent policy paper called "Growing the Wealth," they refer to these trends as constituting "inclusive capitalism."
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