There are plenty of areas where American workers and companies agree, however, such as the need for public investments in infrastructure and education.
There is another worker-business alignment, explored in a new Center for American Progress report, that has us — a corporate chief executive and a labor leader — excited about its potential to boost innovation and workers’ wages when we desperately need both.
“Inclusive capitalism” is based on the simple idea that when a company does well, its workers should also do well. Mechanisms to promote inclusive capitalism include everything from broad-based profit-sharing and stock options to worker cooperatives and employee stock ownership plans.
This can lead to innovations that help U.S. companies compete in the global economy. Ideas for new products and efficiency improvements don’t just come from the top; often, they come from less senior workers. Yet we are largely ignoring a proven strategy for uncovering innovation: rewarding workers for the gains they help create by paying them a share of the profits.