Are 100% employee-owned ESOPs market socialism? Theoretical scenario, company shares can only be owned by employees and the amount of share you earn every year is a percentage of your salary. The percentage is the same for every employee but obviously high-paid employees accumulate more shares. There is no democracy, the board (not shareholders) and the executives make all decisions, but are legally obligated to work in the employees best interest. Thoughts?
Are 100% employee-owned ESOPs market socialism? Theoretical scenario, company shares can only be owned by employees and the amount of share you earn every year is a percentage of your salary. The percentage is the same for every employee but obviously high-paid employees accumulate more shares.
There is no democracy, the board (not shareholders) and the executives make all decisions, but are legally obligated to work in the employees best interest.
Thoughts?