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.
Less-Known Supporters of Workplace Democracy
June 30, 2021 by
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.
Reclaiming Democratic Classical Liberalism
March 19, 2020 by
The argument shows that the classical liberal endorsement of sovereign individuals acting in the marketplace generalizes to the joint action of individuals as the principals in their own organizations and associations.
Classical Liberalism and Workplace Democracy
November 20, 2019 by
This is a paper coauthored by Tej Gonza for the European Liberal Forum, the foundation associated with the Lib-Dem parties of the EU in the EU Parliament. It explores the support for workplace democracy given by democratic classical liberals such as Tocqueville, Mill, Dewey, and Buchanan.
Interview at Norwegian Thinktank Manifest (English trans.)
November 22, 2018 by
English translation of June 2018 interview at Oslo think-tank Manifest.
Worker Cooperative as an Employee Ownership Fund
September 19, 2018 by
This paper shows how a worker cooperative can serve as an ESOP-like employee-ownership vehicle to make a partial or total buyout of a conventional company.
Some Less Well-Known Supporters of Workplace Democracy
August 11, 2018 by
This is a collection of likenesses or pictures and some representative quotations of a number of less well-known supporters (all dead white men) of workplace democracy.
Alleged Problems in Labor-Managed Firms
August 6, 2018 by
This paper will discuss two problems that have plagued the literature on the Ward-Domar-Vanek labor-managed firm (LMF) model, the perverse supply response problem and the Furubotn-Pejovich horizon problem.
Lord Eustace Percy’s “Unknown State” Lecture
May 2, 2018 by
Lord Eustace Percy was a Conservative public servant but was better known as a serious thinker, indeed, as the “Minister of Thinking.” There is a remarkable and much-quoted passage in his 1944 Riddell Lecture The Unknown State.
English and Swedish Versions of Swedish ESOP Report
February 20, 2018 by
In September 2017, my long-time associate, Chris Mackin, and I did a speaking tour on ESOPs in Sweden hosted by the filmmaker, Patrik Witkowsky, the to-be-lawyer, Mattias Göthberg, and the labor-oriented think tank, Katalyst. Afterwards, Patrik wrote a report, here translated into English, introducing the ESOP idea to a larger Swedish audience and describing the US experience.