경제 민주주의의 실현을 위한 대안적 기업소유 모델

Abstract

Economic inequality in our society is shown in two ways. One is the inequality of wealth resulting from wage income and asset gaps, and the other is the inequality of power in economic contractual relationships. The economic sector, where inequality in economic power and the ideology of maximizing shareholder value are prevalent, has become an extraterritorial zone of democracy and human rights. Power inequality between the parties to the contract results in an unfair distribution of values. The power gap in employment contracts leads to reduced wages and a lack of effective demand. These inequalities and discrimination will prevent innovation in corporate organizations, and further lead to a decline in social productivity. The ownership of the means of production itself does not give the capitalist authority to discipline and order workers. It may just be the result of capitalists and workers’ mythical acceptance of such contracts. In what form of corporate governance does the democratic principle that basic self-determination is inalienable work well? Among the institutions in which workers can exercise their right to speak within a company are labor unions, labor-management councils, and labor-management directors. In addition, from a commercial point of view, workers can collectively acquire their shares and exercise the right to speak as much as their shareholdings. If a worker enters into a contract with a capitalist to take responsibility for production and pay for the use of capital, the worker will have the authority to control production and labor on its own and to control performance distribution. This can be realized through the acquisition of workers and the socialization of major industries. This allows workers to participate in management more fully and to decide on their own labor processes, as well as share profit. Workers-owned firm will increase productivity through innovation, and the purpose of their production will be turned into a pursuit of happy life, not a profit. If the purpose of production changes like this, it will evolve into an economic organization that effectively responds to the climate crisis we face. This article introduces mechanisms designed to benefit both sellers and workers from the employee buyout. In addition, the government introduce a policy that requires companies to convert a portion of their shares into workers’ ownership funds each year. This would enable large-scale bailouts to overcome the COVID-19 economic crisis to be utilized efficiently, not in the interests of a few, but in the interests of workers and society.