Forum Post: co-operatives vs corporations

Is capitalism just an extension of feudalism? Well the capital controls the work force, the work force doesnt control the capital... Shareholders only see the bottom line. Ten times out of ten they will vote to 'downsize' the company to retain their level of profit. They will gladly send their operation overseas if they think it will increase their profit margins. How does somebody that never steps foot in the place of employment have so much influence on its direction? Worker-led industry acts as a co-operative. They are jointly owned by the workers. They get the vote on the direction of the company, share in the profits and dividends and are not going to vote to send their jobs overseas... Co-operative Banks and Credit Unions work the same way. They send you a dividend, invest in community-led projects and give you, the depositor, a vote on how to run the company. National banks dont pay dividends to their depositors, charge you to withdraw your own money and dont give you a vote on how to invest your money. When you think about it, there is little choice. For more visit Professor Noam Chomsky's website chomsky.info