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Forum Post: Professor Richard Wolff outlines 3-point plan to promote worker Co-Ops

Posted 4 years ago on May 5, 2014, 10:10 p.m. EST by TGN (48)
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[-] 7 points by TGN (48) 4 years ago
  1. Keep working with organized labor
  2. Invite the public finance movement to fund the new economy
  3. Organize the restless to build a mass movement
[-] 3 points by LeoYo (5909) 4 years ago

Union Credit


Union Credit is the proposal for a nationwide union of municipal credit unions for uniting all Americans in a mutually beneficial financial community. In addition to being a national credit union, Union Credit would also market mutual insurance and provide facilitation of the Municipal Employee Cooperative Plan and the Municipal Cooperative Employment Service. Increased patronization of the Union Credit mutual insurance can be supported through an incentives program in which any person who is a patron of both Union Credit and its mutual insurance can pay 1% less on their premiums in the next year for every new member they are responsible for recruiting to the same type of insurance. If a person recruits 10 people for the auto insurance, that person will pay 10% less on their auto insurance in the next year. If a person recruits 103 people for the health insurance, that person will pay nothing on their health insurance premium in the next year and 3% less in the following year. These one year discounts on premiums will not only slightly ease a member’s financial burdens but will also provide the incentives for member recruitment and becoming full patrons of the Union Credit financial services thereby enabling larger loans and better coverage for the municipal community.

Municipal Employee Cooperative Plan

The Municipal Employee Cooperative Plan allows the members of Union Credit to have deductions applied to their paycheck deposits for contribution to a cooperative fund enabling employed members to either become the worker-owners of their current workplaces or to become the worker-owners of new cooperative businesses.

Municipal Cooperative Employment Service

The Municipal Cooperative Employment Service would assess the skills of the unemployed individuals to patronize it and match them with a suggested cooperative business plan. Upon acceptance or rejection of the plan for an alternative plan, the Municipal Cooperative Employment Service would facilitate the crowd funding of the new cooperative business. Alternatively, cooperative businesses could be pursued without crowd funding through the formation of Business Management Cooperatives that would contract with business owners to staff and manage their businesses for an equal share of the profits. In either case, with the nationwide establishment of the Municipal Cooperative Employment Service, the unemployed of each city would be consistently channeled into either newly or already established worker-owner cooperatives modifying the economic well-being of society at a fundamental level.

[-] 1 points by wickerman (62) 4 years ago

Growing up in cold war America the idea of Socialism is a little hard for me to swallow. That said, is this idea socialist? Does it matter? It is in my opinion a good thing, though there are a lot of ways for it to get side tracked, and a lot of hurdles to negotiate to make it work. It is no different than my little farm, in that we own it, and also form it's workforce.

[-] 1 points by MattLHolck (16833) from San Diego, CA 4 years ago

and socialism's privileged class

good times the cold wars

[-] 1 points by wickerman (62) 4 years ago

Seems there is always a privileged case.

[-] 1 points by MattLHolck (16833) from San Diego, CA 4 years ago

some one has to pay me to work