The Rise of the Worker-Owned Business

Guess what: there is a third way that businesses are owned. You know the first two - private ownership and public ownership (via the stock markets). But then there is a third way: worker-owned businesses and, said some academics, their numbers are rising.

“This is a moment for worker-owned businesses,” said Joseph Blasi, a professor at the School of Management at Rutgers University and co-author of The Citizen’s Share: Reducing Inequality in the 21st Century.

“There is a renewed interest in worker ownership,” said Frank Shipper, a professor at the Perdue School of Business at Salisbury University. The core reason: “They are a way to give average people financial security.”

Agreed Ted de Barbieri, an assistant professor of clinical law at Brooklyn Law, “There are reasons to be optimistic about the future of worker cooperatives. They address income inequality and that’s needed.”

Read the full article at The Street

 

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