Employee Ownership as Creative Capitalism

Author: Durwood, Ben
Source: The Beyster Institute
Year: 2010
Number of pages: 2

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Abstract:

The term “creative capitalism” describes a society in which companies strive for dual goals – profitability and social responsibility. Allocating ownership to employees helps re-distribute wealth, allowing lower- and middle-class workers to save more and retire earlier. Meanwhile, employee ownership plans transform a company’s culture, because employees adopt the mentality of owners; they work harder and become more involved in process improvement and cost management, causing their company’s net income to increase at a faster rate.