that whole concept could just be trashed by 1 very simple idea

no dude

JUST BUY THE FUCKING STOCKS WHEN IT IPO-s

everybody already does it

when the shares are issued to the workers, they will get voting rights. now they can vote to keep the original owner in charge if theyre happy with his management

if theyre not happy

then fuck the cunt

and that leads to poor economics

no it doesnt

owners often have the difficult decision of firing people

i.e when recession comes

what leads to poor economics is when you constrict demand by ensuring wages dont go up

people dont like getting fired

so what will they do?

bro you still have management

vote him out

omfg

that leads to the company going bankrupt

no dude the workers vote for management and you can have *policy for retrenchments*

If people dont like the retrenchments, bad luck

next AGM they can vote on it

it isnt that simple

if they run the business into the ground, *they lose their job*

people will run the business for their own benefit (to keep their jobs)

actually lets think about like this bro

say you have 1000 workers

directors usually look to keep the company afloat

and you have $10000 in profit

each worker gets $10

if you fire 100 people

theres 900 people sharing $10000

guess what

*theyve increased their wages*

it doesent work like that

yes it fucking does

so the argument goes both ways

if you fire the workforce, then the output would also decrese

yes so they cant fire everyone

decreased output= less profit

less profit= lower wages

theyre incentivised to fire the optimal amount