As a result, when a worker hires out their labour, they are assumed to be incapable of 'owning' the product they create. Then, the person that gets the profit becomes the person doing the hiring. In the current system, that's the employer, and they get to retain any profits - ThreadSky

basalisk.bsky.social • 15 days ago

As a result, when a worker hires out their labour, they are assumed to be incapable of 'owning' the product they create. Then, the person that gets the profit becomes the person doing the hiring. In the current system, that's the employer, and they get to retain any profits

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basalisk.bsky.social•15 days ago

The consequence is, the 'ownership' and control of a firm really should belong in the hands of the people working in it, not the people that lend it money, or on which lord's land it occurs. This is largely an idea developed by a guy called David Ellerman, and I'm still getting my head around it

basalisk.bsky.social•15 days ago

I think what I'd like to see in its place is a system that involves the economic firm and the legal body being more coincident, with internally democratic, 'bottom up' control structures, rather than the essentially military dictatorships with absentee landlords of most modern large firms

basalisk.bsky.social•15 days ago

And then, I'd like to see the profits of each firm return to the workers of that firm, but to avoid some of the issues that occur with coops, have something like the internal capital accounts that Mondragon style firms have

basalisk.bsky.social•15 days ago

For a far better exploration of this idea, C.G.P Grey did an animation exploring the economics of the golden age of piracy, and how a pirate ship worked as a worker cooperative, that I think illustrates my beliefs well
(https://www.youtube.com/watch?v=T0fAznO1wA8)

basalisk.bsky.social•15 days ago

But the end result is, I would like to see a society where vast inequality is a transient and unsustainable state, and power is distributed as thinly as vegemite on toast, so no one person or faction can dictate against the interest of everyone

basalisk.bsky.social•15 days ago

I believe societies grow great when it's impossible for a powerful person to ensure their children retain power through purchase or fiat, but that the children of the powerful have to be good citizens in their own right to acquire power afresh

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