This week, I want you to think about how much Capitalism and Socialism really are opposed. Can a Capitalist framework include collective economy? Niki Okuk believes so in her TED Talk “When workers own companies, the economy is more resilient” (12 minutes) found here:
After watching her TED Talk, answer the following questions in a paragraph or so each:
- What is a worker-owned company? What is an example Okuk uses of a worker-owned company?
- What do you think about labor unions? Do they help Capitalism (as Okuk suggests) or hurt Capitalism?
- Is the cooperative economy of Mondragon, Spain more like Smith’s baker-brewer-butcher scenario or more like Marx’s idea of labor controlling the capital? Why?