- McJobs and Workers -

Savings vs. Profits

In Reply to: OK, allow me to rephrase... posted by Mike Bacon on December 03, 1998 at 20:01:30:

However,
Profits, generally speaking, are distributed as dividends to share holders. Expansion for future sales should be made as a collective decision by the workforce (democratically) instead of a decision by the owners (or, rather... the workers ARE the owners). One of the current problems of opening up enterpise to investment by the public (or rather the public that can afford to own large amounts of stock, which is know in practice is the top 10%) is that they make decisions based on quarterly returns instead of a long range picture. Your lucky if you can get them to think about a year in the future.

As it is, most companies finance any expansion after their IPO directly out of the existing revenues without seeking loans. Why? Because loans give you another one of those great evils of the world... Interest. Credit, generally speaking, is the foundation of why we have profit-propertied-owner relationship to the worker who doesn't own the means of their production. And yeah, I don't like rent either.

If there is going to be profit, is use should be determined by those who created it... the workers. As it is, all decisions are made on the basis of ownership which can be quite seperated from work (not that some capitalists don't work, many do... they work very hard at getting your money). If its used for a health plan, or to expand operations, or whatever... that should be a decision made by those affected and involved in it.

Economic democracy.

Solid,

Flint

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