When Workers Own Companies, the Economy Is More Resilient @TED #ted #shorts

43,384 views

2023-05-31 ・ TED


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When Workers Own Companies, the Economy Is More Resilient @TED #ted #shorts

43,384 views ・ 2023-05-31

TED


Please double-click on the English subtitles below to play the video.

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Where are we going to get the wealth
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to build the types of business that we want.
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And the answer is going to have to be cooperative economics.
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There's a lot of different versions of cooperativism.
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What I'm talking about today is worker ownership.
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Right now, today,
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in South Bronx,
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is the country's largest worker-owned company.
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And it was founded by black and Latinx home care workers
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who are now able to pay themselves living wages,
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they have full-time hours, they have benefits and a pension,
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through their membership as a unit of SEIU.
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And these women owners now receive a dividend back
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on their ownership every year that the company has been profitable,
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which has been most years.
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They don't have any big investors.
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They don't have fat-cat CEOs or absentee owners
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taking the profit out of the company.
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They each pay in about 1,000 dollars over time
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in order to gain ownership,
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and now they own their job.
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I'm so inspired by what they're doing,
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because it really represents an alternative
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to the type of economy we have now,
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which exploits all of us.
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