Will the Labor Department appeal a judge’s recent decision that could deny overtime pay to millions of Americans? Labor Secretary Alexander Acosta has been clear that he doesn’t like the Obama administration’s overtime rule, insisting that he wants to reconsider it and possibly make one of his own. But he needs to appeal the judge’s decision regardless, otherwise he’s creating uncertainty that isn’t good for anyone.
The historical relationship between capital and labor has evolved in the past few decades. One particularly noteworthy development is the rise of shared capitalism, a system in which workers have become partial owners of their firms and thus, in effect, both employees and stockholders. Profit sharing arrangements and gain-sharing bonuses, which tie compensation directly to a firm’s performance, also reflect this new attitude toward labor.
Shared Capitalism at Work analyzes the effects of this trend on workers and firms. The contributors focus on four main areas: the fraction of firms that participate in shared capitalism programs in the United States and abroad, the factors that enable these firms to overcome classic free rider and risk problems, the effect of shared capitalism on firm performance, and the impact of shared capitalism on worker well-being. This volume provides essential studies for understanding the increasingly important role of shared capitalism in the modern workplace.
National Bureau of Economic Research Conference Report