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Shared Capitalism at Work
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Shared Capitalism at Work: Employee Ownership, Profit and Gain Sharing, and Broad-Based Stock Options

Douglas L. Kruse, Richard B. Freeman, and Joseph R. Blasi

Abstract

The historical relationship between capital and labor has evolved in the past few decades. One particularly noteworthy development is the rise of shared capitalism, a system in which workers have become partial owners of their firms and thus, in effect, both employees and stockholders. Profit sharing arrangements and gain-sharing bonuses, which tie compensation directly to a firm's performance, also reflect this new attitude toward labor. This book analyzes the effects of this trend on workers and firms. The chapters focus on four main areas: the fraction of firms that participate in shared ca ... More

Keywords: capital, labor, workers, employees, stockholders, profit sharing, gain-sharing bonuses, firm performance, free rider problem, risk problems, shared capitalism

Bibliographic Information

Print publication date: 2010 Print ISBN-13: 9780226056951
Published to Chicago Scholarship Online: February 2013 DOI:10.7208/chicago/9780226056968.001.0001

Authors

Affiliations are at time of print publication.

Douglas L. Kruse, editor

Richard B. Freeman, editor

Joseph R. Blasi, editor

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Contents

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Introduction

Richard B. Freeman, Joseph R. Blasi, and Douglas L. Kruse

I The Extent and Operation of Shared Capitalism

2 Worker Responses to Shirking under Shared Capitalism

Richard B. Freeman, Douglas L. Kruse, and Joseph R. Blasi

3 Risk and Lack of Diversification under Employee Ownership and Shared Capitalism

Joseph R. Blasi, Douglas L. Kruse, and Harry M. Markowitz

II Firm Performance

4 Creating a Bigger Pie? The Effects of Employee Ownership, Profit Sharing, and Stock Options on Workplace Performance

Joseph R. Blasi, Richard B. Freeman, Christopher Mackin, and Douglas L. Kruse

7 Who Has a Better Idea? Innovation, Shared Capitalism, and Human Resources Policies

Erika E. Harden, Douglas L. Kruse, and Joseph R. Blasi

III Worker Well-Being

11 Show Me the Money Does Shared Capitalism Share the Wealth?

Robert Buchele, Douglas L. Kruse, Loren Rodgers, and Adria Scharf

Epilogue(and Prologue)

Joseph R. Blasi, Douglas L. Kruse, and Richard B. Freeman