Featured | Democratic Firms
European ESOP
The American Employee Stock Ownership Plan or ESOP is a leveraged buyout mechanism so that the employees in a company can, in effect, do a leveraged buyout of part or eventually all of their own company. ESOP is one of the most successful and unifying models for employee ownership in the world. The purpose of this paper is to analyze the main features of the US ESOP model and to define a technical description of the European ESOP, which builds on the good features of the US model and improves the flawed features.
Marcora Law for Europe
There is a time-tested solution in Spain and Italy that provides liquidity to such enterprises in a democratic manner by establishing employee ownership schemes. The new source of liquidity is allowing unemployed workers to capitalize part of their unemployment insurance to invest in a new or existing enterprise where they will have a job.
Featured | Development
Marcora Law for Europe
There is a time-tested solution in Spain and Italy that provides liquidity to such enterprises in a democratic manner by establishing employee ownership schemes. The new source of liquidity is allowing unemployed workers to capitalize part of their unemployment insurance to invest in a new or existing enterprise where they will have a job.
Comments on Universal Basic Income
This is a draft paper called “UBI: A Bad Idea Whose Time has Come?”. The income supplements supplied due to the coronavirus pandemic have put the UBI back on the policy agenda, so it is appropriate to re-examine the idea. Click here to download the paper.
Featured | Property Theory
Less-Known Supporters of Workplace Democracy
his paper, published as an editorial in the Journal for Participation and Employee Ownership collects together extensive quotations and extracts from 19th and 20th century thinkers who were little-known for being supporters of workplace democracy.
The “Ownership of the Firm” is a Myth (1975)
This paper was originally published in a journal: Ellerman, David. 1975. “The ‘Ownership of the Firm’ Is a Myth.” Administration and Society 7 (1 May): 27–42, and then we immediately reprinted in a collection of essays: Ellerman, David. 1975. “The ‘Ownership of the Firm’ Is a Myth.” In Organizational Democracy : Participation and Self-Management, edited by David Garson and Michael P. Smith. Beverly Hills CA: Sage Publications.
Featured | Quantum Mechanics
The Born Rule is a feature of Superposition
The Born Rule arises naturally out of the mathematics of probability theory enriched by superposition events. It does not need any more-exotic or physics-based explanation. No physics was used in the making of this paper. The Born Rule is just a feature of the mathematics of superposition.
The new partitional approach to (literally) interpreting quantum mechanics
This paper presents a new `partitional’ approach to understanding or interpreting standard quantum mechanics (QM). The thesis is that the mathematics (not the physics) of QM is the Hilbert space version of the math of partitions on a set and, conversely, the math of partitions is a skeletonized set level version of the math of QM.
Featured | Mathematics
The Born Rule is a feature of Superposition
The Born Rule arises naturally out of the mathematics of probability theory enriched by superposition events. It does not need any more-exotic or physics-based explanation. No physics was used in the making of this paper. The Born Rule is just a feature of the mathematics of superposition.
Kaldor-Hicks Petitio Principii Fallacy
This paper shows that implicit assumptions about the numeraire good in the Kaldor–Hicks efficiency–equity analysis involve a ‘‘same-yardstick’’ fallacy (a fallacy pointed out by Paul Samuelson in another context), a special case of the Petitio Pricipii fallacy.
