Mike Norman Economics: Ownership Society - Ep. 4: Values, Principles, Tools, Systems

Richard Wolff says cooperatives are the future as capitalism isn't working for most people.

Below is a series of videos made by a group of people who call themselves the Ownership Society, and they agree with Richard Wolff about cooperatives.

Capitalism doesn't work for most people, say the Ownership Society, because a few elite owned the means of production and used their market position to exploit people by pitting them against each other forcing their wages down, but socialism didn't work either, they say, because there was no reward for individual incentive. Why work hard to dig up extra potatoes in a field if is going to be shared equally amongst everyone?

Having broad ownership in a modern economy necessarily implies cooperation. Many groups of people have developed cooperative enterprises. Whenever cooperation has emerged, it has followed the same pattern.