this post was submitted on 16 Sep 2023
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Antiwork
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A community for those who want to end work, are curious about ending work, want to get the most out of a work-free life, want more information on anti-work ideas and want personal help with their own jobs/work-related struggles.
The new place for c/[email protected]
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Date Created: June 21, 2023
Library copied from reddit:
The Anti-Work Library 📚
Essential Reads
Start here! These are probably the most talked-about essays on the topic.
- The Abolition of Work by Bob Black (1985) | listen
- On the Phenomenon of Bullshit Jobs by David Graeber (2013) | listen
- In Praise of Idleness by Bertrand Russell (1932) | listen
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Not entirely as if you sold the company then you would receive a share of the profits as you are part owner so it does in a sense represent the value of a company but not really and only if sold. In your example they cannot sell so those specific shares wouod yave no value making getting investment difficult.
Shares right now can be sold, but if you stole all the stock from outside sources and gave it to the workers no one would purchase that stock ever again as there would be no reason to think you would not steal again.
In CEO's cases if they get paid $1 they either take loans against the value of the stock that they can later move or the business provides them a series of allowances and an expense account. It is usually the latter where the business gives them a home and a credit card that covers everything.
Stocks have value but part of it is speculative.
If the company bought back the shares that could destroy most companies as it is almost impossible to have enough cash reserves to cover the value of your company. You can't get loans for it because you would have to give up stock as collateral which would defeat the purpose of the buyback.
If the stock is bought back then those shares will have lost value as the company has less cash in reserve and is clearly worth less than it was before.
If the shares can only be held by employees they would have no real value. getting a job at that company would likely be very expensive as you would have to buy in and there would be little incentive to do so.
Basically your idea won't work IRL in any form and would likely destroy the company really quickly. Is it safe to presume you have no formal education in economics because this is intro level stuff.
Capitalism doesn't make claims in those regards though.
Workers do get paid first in most cases as I got paid when a business I worked for was forced to sell (liquor store that flagrantly violated laws). The people who lost out were the owners who could not sell the business, its stock of booze, or its license.
Why are you presuming they were making tremendous amounts of money on the order of millions after payroll? I mentioned it was a liquor store. The owner made a few hundred grand and paid people well. We all got two weeks severance in addition to our checks. He was an asshole but he paid well and did not fuck around on that point.